Thermo Fisher Scientific (NYSE:TMO) Sets New 12-Month High at $316.09

Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) reached a new 52-week high on Wednesday . The company traded as high as $316.09 and last traded at $315.64, with a volume of 939209 shares trading hands. The stock had previously closed at $312.89.

A number of research analysts recently weighed in on the company. Evercore ISI raised Thermo Fisher Scientific to an “outperform” rating in a research report on Thursday, November 14th. ValuEngine lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus assumed coverage on Thermo Fisher Scientific in a research report on Thursday, November 14th. They set a “buy” rating and a $345.00 price objective for the company. Robert W. Baird raised their price objective on Thermo Fisher Scientific from $305.00 to $319.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $317.00.

The firm has a market cap of $125.89 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The stock has a fifty day simple moving average of $300.24 and a 200 day simple moving average of $288.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 1.80.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $2.94 EPS for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.06. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.19 billion. Thermo Fisher Scientific had a return on equity of 17.16% and a net margin of 14.24%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.62 EPS. Research analysts predict that Thermo Fisher Scientific Inc. will post 12.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 17th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Monday, December 16th. Thermo Fisher Scientific’s payout ratio is 6.83%.

Thermo Fisher Scientific announced that its board has approved a share buyback program on Friday, November 8th that allows the company to repurchase $2.50 million in shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

In other news, CEO Marc N. Casper sold 2,271 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $298.00, for a total value of $676,758.00. Following the transaction, the chief executive officer now directly owns 283,502 shares in the company, valued at approximately $84,483,596. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 47,729 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $295.88, for a total value of $14,122,056.52. Following the completion of the transaction, the chief executive officer now owns 328,960 shares in the company, valued at $97,332,684.80. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in TMO. Nuveen Asset Management LLC boosted its stake in shares of Thermo Fisher Scientific by 10,824.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,928,966 shares of the medical research company’s stock worth $566,498,000 after buying an additional 1,911,308 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Thermo Fisher Scientific by 2,589.9% in the 2nd quarter. Jennison Associates LLC now owns 819,138 shares of the medical research company’s stock worth $240,564,000 after buying an additional 788,686 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of Thermo Fisher Scientific by 2,645.9% in the 2nd quarter. Putnam Investments LLC now owns 720,795 shares of the medical research company’s stock worth $211,683,000 after buying an additional 694,545 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 38.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,141,471 shares of the medical research company’s stock worth $621,561,000 after buying an additional 598,230 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Thermo Fisher Scientific by 22.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,986,916 shares of the medical research company’s stock worth $877,186,000 after buying an additional 555,802 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.

Thermo Fisher Scientific Company Profile (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.

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