Thermo Fisher Scientific (NYSE:TMO) had its target price cut by Morgan Stanley from $228.00 to $216.00 in a research note published on Wednesday morning. They currently have an overweight rating on the medical research company’s stock.
TMO has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Thermo Fisher Scientific from a buy rating to a hold rating in a report on Monday, March 26th. BTIG Research began coverage on shares of Thermo Fisher Scientific in a report on Friday, January 5th. They issued a buy rating and a $230.00 price objective for the company. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $225.00 to $245.00 and gave the company an overweight rating in a report on Thursday, February 1st. ValuEngine raised shares of Thermo Fisher Scientific from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $235.00 to $250.00 and gave the company a buy rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Thermo Fisher Scientific has a consensus rating of Buy and a consensus price target of $220.64.
NYSE TMO opened at $212.79 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $86,459.92, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. Thermo Fisher Scientific has a 12-month low of $151.74 and a 12-month high of $226.44.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.15. Thermo Fisher Scientific’s dividend payout ratio is 7.17%.
In related news, SVP Gregory J. Herrema sold 33,327 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $219.70, for a total transaction of $7,321,941.90. Following the completion of the transaction, the senior vice president now directly owns 60,471 shares in the company, valued at approximately $13,285,478.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $210.16, for a total transaction of $8,406,400.00. Following the transaction, the chief executive officer now owns 334,622 shares of the company’s stock, valued at $70,324,159.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,827 shares of company stock valued at $19,012,672. 0.49% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in TMO. Meritage Group LP acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth approximately $201,383,000. Viking Global Investors LP acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $154,660,000. Investec Asset Management LTD increased its position in Thermo Fisher Scientific by 28.0% during the 3rd quarter. Investec Asset Management LTD now owns 2,173,381 shares of the medical research company’s stock worth $411,204,000 after purchasing an additional 475,970 shares in the last quarter. Cornerstone Investment Partners LLC increased its position in Thermo Fisher Scientific by 89.8% during the 4th quarter. Cornerstone Investment Partners LLC now owns 802,374 shares of the medical research company’s stock worth $152,355,000 after purchasing an additional 379,703 shares in the last quarter. Finally, Longview Partners Guernsey LTD increased its position in Thermo Fisher Scientific by 6.8% during the 4th quarter. Longview Partners Guernsey LTD now owns 4,876,890 shares of the medical research company’s stock worth $926,024,000 after purchasing an additional 311,977 shares in the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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