Investors Buy Thermo Fisher Scientific Inc (NYSE:TMO) on Weakness

Investors bought shares of Thermo Fisher Scientific Inc (NYSE:TMO) on weakness during trading on Thursday. $112.81 million flowed into the stock on the tick-up and $55.57 million flowed out of the stock on the tick-down, for a money net flow of $57.24 million into the stock. Of all companies tracked, Thermo Fisher Scientific had the 10th highest net in-flow for the day. Thermo Fisher Scientific traded down ($1.52) for the day and closed at $171.74

Several equities research analysts have issued reports on TMO shares. Bank of America Corporation reiterated a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Zacks Investment Research downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Barclays PLC set a $175.00 price objective on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on shares of Thermo Fisher Scientific in a research report on Thursday, May 18th. They issued an “overweight” rating and a $194.00 price objective for the company. Finally, Cowen and Company reissued an “outperform” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Thermo Fisher Scientific in a research report on Saturday, April 29th. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $188.56.

The company has a 50 day moving average of $176.78 and a 200 day moving average of $165.46. The company has a market capitalization of $67.58 billion, a price-to-earnings ratio of 30.18 and a beta of 1.06.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter last year, the company posted $2.03 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that Thermo Fisher Scientific Inc will post $9.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.35%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.

In related news, CEO Marc N. Casper sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $172.79, for a total transaction of $3,455,800.00. Following the completion of the sale, the chief executive officer now owns 269,279 shares in the company, valued at $46,528,718.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Williamson sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $176.26, for a total transaction of $440,650.00. Following the sale, the chief financial officer now owns 37,790 shares of the company’s stock, valued at approximately $6,660,865.40. The disclosure for this sale can be found here. Insiders have sold 27,188 shares of company stock valued at $4,702,223 in the last 90 days. 0.49% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC raised its position in shares of Thermo Fisher Scientific by 71.5% in the first quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock worth $105,000 after buying an additional 253 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth $108,000. Cribstone Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 8.7% in the second quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock worth $109,000 after buying an additional 50 shares in the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of Thermo Fisher Scientific by 0.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 730 shares of the medical research company’s stock worth $112,000 after buying an additional 2 shares in the last quarter. Finally, Sharkey Howes & Javer raised its position in shares of Thermo Fisher Scientific by 1.0% in the first quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock worth $113,000 after buying an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.

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About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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