Virtu Financial LLC acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,032 shares of the medical research company’s stock, valued at approximately $638,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the third quarter worth approximately $27,000. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC increased its holdings in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $50,000. 89.23% of the stock is currently owned by institutional investors.
Thermo Fisher Scientific Price Performance
Shares of TMO opened at $526.89 on Friday. The firm has a market capitalization of $201.54 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company’s fifty day moving average price is $550.39 and its 200-day moving average price is $573.72. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.
Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.
Insider Activity at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 over the last three months. Company insiders own 0.34% of the company’s stock.
Analysts Set New Price Targets
TMO has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Bernstein Bank upped their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. Evercore ISI dropped their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America reduced their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $652.30.
View Our Latest Analysis on TMO
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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