Thermo Fisher Scientific Inc. Plans Quarterly Dividend of $0.35 (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) declared a quarterly dividend on Wednesday, May 24th, RTT News reports. Shareholders of record on Thursday, June 15th will be paid a dividend of 0.35 per share by the medical research company on Friday, July 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.27%.

Thermo Fisher Scientific has increased its dividend by an average of 16.5% per year over the last three years and has raised its dividend every year for the last 6 years. Thermo Fisher Scientific has a dividend payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Thermo Fisher Scientific to earn $26.57 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 5.3%.

Thermo Fisher Scientific Trading Down 2.7 %

TMO traded down $14.38 during mid-day trading on Wednesday, hitting $510.72. The stock had a trading volume of 2,481,672 shares, compared to its average volume of 1,419,253. The stock’s fifty day simple moving average is $554.68 and its 200-day simple moving average is $555.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.27 and a quick ratio of 0.92. The firm has a market capitalization of $196.99 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. Thermo Fisher Scientific has a 1-year low of $475.77 and a 1-year high of $611.06.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last posted its earnings results on Wednesday, April 26th. The medical research company reported $5.03 earnings per share for the quarter, hitting the consensus estimate of $5.03. The company had revenue of $10.71 billion for the quarter, compared to analyst estimates of $10.67 billion. Thermo Fisher Scientific had a net margin of 13.75% and a return on equity of 19.16%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the business posted $7.25 earnings per share. As a group, research analysts forecast that Thermo Fisher Scientific will post 23.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of Thermo Fisher Scientific from $670.00 to $620.00 in a report on Thursday, April 27th. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $693.00 to $670.00 in a report on Thursday, April 27th. Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $610.00 and set an “outperform” rating on the stock in a report on Tuesday, April 4th. SVB Leerink raised their price objective on shares of Thermo Fisher Scientific from $620.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Finally, Cowen raised their target price on shares of Thermo Fisher Scientific from $690.00 to $711.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $627.91.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 1,600 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $534.82, for a total value of $855,712.00. Following the sale, the chief executive officer now directly owns 141,330 shares of the company’s stock, valued at approximately $75,586,110.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $534.82, for a total transaction of $855,712.00. Following the completion of the sale, the chief executive officer now directly owns 141,330 shares in the company, valued at $75,586,110.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $545.22, for a total transaction of $5,452,200.00. Following the completion of the sale, the chief executive officer now owns 141,330 shares of the company’s stock, valued at $77,055,942.60. The disclosure for this sale can be found here. Insiders have sold 19,100 shares of company stock valued at $10,391,587 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors have recently bought and sold shares of the company. Live Oak Investment Partners purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $36,000. Fortis Capital Advisors LLC purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $88,000. Penserra Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 142.4% during the first quarter. Penserra Capital Management LLC now owns 160 shares of the medical research company’s stock worth $93,000 after acquiring an additional 94 shares during the last quarter. MayTech Global Investments LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $99,000. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Thermo Fisher Scientific by 18.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 328 shares of the medical research company’s stock worth $181,000 after purchasing an additional 51 shares during the period. 85.92% of the stock is owned by hedge funds and other institutional investors.

About Thermo Fisher Scientific

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.