MML Investors Services LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 52.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,472 shares of the medical research company’s stock after acquiring an additional 2,563 shares during the period. MML Investors Services LLC’s holdings in Thermo Fisher Scientific were worth $1,824,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in Thermo Fisher Scientific by 37.3% during the third quarter. Prudential Financial Inc. now owns 870,177 shares of the medical research company’s stock worth $212,392,000 after buying an additional 236,310 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Thermo Fisher Scientific by 39.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 79,618 shares of the medical research company’s stock worth $19,433,000 after buying an additional 22,488 shares during the last quarter. Gilbert & Cook Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth approximately $212,000. Associated Banc Corp increased its position in Thermo Fisher Scientific by 13.5% during the third quarter. Associated Banc Corp now owns 35,617 shares of the medical research company’s stock worth $8,693,000 after buying an additional 4,237 shares during the last quarter. Finally, AGF Investments America Inc. increased its position in Thermo Fisher Scientific by 12.5% during the third quarter. AGF Investments America Inc. now owns 55,023 shares of the medical research company’s stock worth $13,430,000 after buying an additional 6,112 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.
In other news, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tyler Jacks sold 4,772 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $239.75, for a total value of $1,144,087.00. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current year.
Thermo Fisher Scientific declared that its board has approved a stock 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 buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, December 14th. Thermo Fisher Scientific’s payout ratio is 7.17%.
A number of brokerages have weighed in on TMO. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $261.00 price target on the stock in a research report on Monday, August 6th. UBS Group began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 9th. They set a “buy” rating and a $295.00 price target on the stock. Goldman Sachs Group downgraded Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $254.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 25th. Finally, Robert W. Baird boosted their price target on Thermo Fisher Scientific from $256.00 to $264.00 and gave the stock an “outperform” rating in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $263.55.
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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