Franklin Resources Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,750 shares of the medical research company’s stock after selling 1,212 shares during the quarter. Franklin Resources Inc. owned 0.06% of Thermo Fisher Scientific worth $62,667,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Atlantic Trust LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $154,000. Signet Financial Management LLC lifted its position in shares of Thermo Fisher Scientific by 90,000.0% during the 2nd quarter. Signet Financial Management LLC now owns 901 shares of the medical research company’s stock worth $187,000 after buying an additional 900 shares during the period. Summit Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $201,000. Searle & CO. bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at $203,000. Finally, BTIM Corp. bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at $203,000. Institutional investors own 86.98% of the company’s stock.
Several brokerages have issued reports on TMO. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $269.00 price objective for the company in a research report on Wednesday, November 28th. Robert W. Baird lifted their target price on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 25th. Citigroup lifted their target price on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, Barclays lifted their target price on Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Monday, September 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus price target of $263.45.
Shares of Thermo Fisher Scientific stock opened at $242.04 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. Thermo Fisher Scientific Inc. has a 12 month low of $183.65 and a 12 month high of $253.91. The firm has a market cap of $98.18 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.77 and a beta of 1.09.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 11.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 7.17%.
Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase plan on Friday, September 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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