Gulf International Bank UK Ltd increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,036 shares of the medical research company’s stock after buying an additional 5,400 shares during the period. Gulf International Bank UK Ltd’s holdings in Thermo Fisher Scientific were worth $32,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at $95,849,000. Chevy Chase Trust Holdings Inc. acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at $70,775,000. Voya Investment Management LLC raised its stake in Thermo Fisher Scientific by 30.4% in the 2nd quarter. Voya Investment Management LLC now owns 1,153,572 shares of the medical research company’s stock valued at $238,951,000 after purchasing an additional 268,708 shares during the last quarter. Natixis raised its stake in Thermo Fisher Scientific by 327.8% in the 2nd quarter. Natixis now owns 346,757 shares of the medical research company’s stock valued at $71,827,000 after purchasing an additional 265,699 shares during the last quarter. Finally, Orbimed Advisors LLC raised its stake in Thermo Fisher Scientific by 49.8% in the 2nd quarter. Orbimed Advisors LLC now owns 583,500 shares of the medical research company’s stock valued at $120,866,000 after purchasing an additional 194,100 shares during the last quarter. Hedge funds and other institutional investors own 85.22% of the company’s stock.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is owned by company insiders.
Shares of TMO opened at $245.57 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $181.51 and a 52-week high of $249.95. The firm has a market capitalization of $95.91 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 1.73 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.27.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (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 the consensus estimate of $5.70 billion. During the same period last year, the company earned $2.31 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.
Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, September 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a $0.17 dividend. 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%.
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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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