Rhumbline Advisers trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 634,188 shares of the medical research company’s stock after selling 17,848 shares during the quarter. Rhumbline Advisers’ holdings in Thermo Fisher Scientific were worth $173,590,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter worth $741,000. Parallel Advisors LLC boosted its position in Thermo Fisher Scientific by 4.4% during the 1st quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock worth $2,578,000 after acquiring an additional 393 shares during the period. Moors & Cabot Inc. boosted its position in Thermo Fisher Scientific by 100.3% during the 1st quarter. Moors & Cabot Inc. now owns 4,784 shares of the medical research company’s stock worth $1,308,000 after acquiring an additional 2,395 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in Thermo Fisher Scientific during the 1st quarter worth $230,000. Finally, Wealth Architects LLC boosted its position in Thermo Fisher Scientific by 11.3% during the 1st quarter. Wealth Architects LLC now owns 1,512 shares of the medical research company’s stock worth $414,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 88.84% of the company’s stock.
A number of research analysts have issued reports on TMO shares. BTIG Research boosted their price target on Thermo Fisher Scientific to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. UBS Group upped their price objective on Thermo Fisher Scientific to $305.00 and gave the company a “buy” rating in a report on Monday, March 25th. Deutsche Bank upped their price objective on Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Bank of America restated a “buy” rating and issued a $300.00 price objective (up previously from $285.00) on shares of Thermo Fisher Scientific in a report on Tuesday, April 16th. Finally, Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $294.77.
Shares of NYSE TMO opened at $261.08 on Tuesday. Thermo Fisher Scientific Inc. has a 12 month low of $202.83 and a 12 month high of $282.98. The firm has a market cap of $104.43 billion, a PE ratio of 23.48, a P/E/G ratio of 1.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.69 and a quick ratio of 1.16.
Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 24th. The medical research company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.74 by $0.07. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the prior year, the business posted $2.50 earnings per share. Thermo Fisher Scientific’s revenue was up 4.6% compared to the same quarter last year. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 12.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Friday, March 15th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.29%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is presently 6.83%.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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