Thermo Fisher Scientific (NYSE:TMO) Hits New 52-Week High at $360.18

Thermo Fisher Scientific Inc. (NYSE:TMO) hit a new 52-week high during trading on Tuesday . The company traded as high as $360.18 and last traded at $360.12, with a volume of 459220 shares trading hands. The stock had previously closed at $350.80.

A number of research analysts have commented on TMO shares. SVB Leerink boosted their target price on Thermo Fisher Scientific from $330.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $340.00 to $341.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Wells Fargo & Co boosted their target price on Thermo Fisher Scientific from $300.00 to $340.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Needham & Company LLC boosted their target price on Thermo Fisher Scientific from $341.00 to $383.00 in a research note on Thursday, April 23rd. Finally, Citigroup upped their price target on Thermo Fisher Scientific from $365.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $353.50.

The company has a current ratio of 2.32, a quick ratio of 1.69 and a debt-to-equity ratio of 0.67. The firm has a market cap of $138.55 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 2.36 and a beta of 1.04. The firm has a 50-day moving average of $345.07 and a two-hundred day moving average of $325.04.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 22nd. The medical research company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.15. Thermo Fisher Scientific had a return on equity of 17.25% and a net margin of 14.31%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the previous year, the firm earned $2.81 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 11.9 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, June 12th. This represents a $0.88 annualized dividend and a dividend yield of 0.24%. Thermo Fisher Scientific’s dividend payout ratio is presently 7.13%.

In related news, COO Mark Stevenson sold 25,000 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $328.03, for a total transaction of $8,200,750.00. Following the completion of the transaction, the chief operating officer now owns 73,538 shares of the company’s stock, valued at approximately $24,122,670.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $348.00, for a total value of $870,000.00. Following the completion of the transaction, the chief financial officer now directly owns 37,989 shares of the company’s stock, valued at approximately $13,220,172. The disclosure for this sale can be found here. Insiders have sold a total of 97,500 shares of company stock valued at $33,044,350 in the last three months. 0.44% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Laurel Wealth Advisors LLC raised its holdings in Thermo Fisher Scientific by 104.3% in the 1st quarter. Laurel Wealth Advisors LLC now owns 94 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 48 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $28,000. Ballast Advisors LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $35,000. Virtus ETF Advisers LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $44,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $44,000. 87.65% of the stock is owned by hedge funds and other institutional investors.

About Thermo Fisher Scientific (NYSE:TMO)

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.

See Also: Institutional Investors

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