Traders Sell Thermo Fisher Scientific (TMO) on Strength (TMO)

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Investors sold shares of Thermo Fisher Scientific Inc. (NYSE:TMO) on strength during trading on Thursday. $49.56 million flowed into the stock on the tick-up and $99.02 million flowed out of the stock on the tick-down, for a money net flow of $49.46 million out of the stock. Of all equities tracked, Thermo Fisher Scientific had the 0th highest net out-flow for the day. Thermo Fisher Scientific traded up $0.04 for the day and closed at $245.57

TMO has been the subject of several research reports. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a research report on Monday, October 1st. UBS Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 target price for the company. Goldman Sachs Group lowered shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $242.00 to $254.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 10th. Finally, Barclays upped their target price on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, September 24th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $261.45.

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84. The company has a market capitalization of $98.84 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.07. The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.

The firm also recently declared 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 annualized dividend and a yield of 0.28%. The ex-dividend date is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 7.17%.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase program on Friday, September 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the business’s stock in a transaction on Monday, October 1st. The shares were 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 Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Thermo Fisher Scientific by 18.5% during the third quarter. FMR LLC now owns 6,499,139 shares of the medical research company’s stock valued at $1,586,310,000 after acquiring an additional 1,016,082 shares during the last quarter. Cantillon Capital Management LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $130,790,000. Bank of Montreal Can bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $95,849,000. Pendal Group Ltd bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $90,332,000. Finally, Chevy Chase Trust Holdings Inc. bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $70,775,000. 85.22% of the stock is owned by institutional investors and hedge funds.

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Thermo Fisher Scientific Company Profile (NYSE:TMO)

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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