Traders 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 stocks 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
Several analysts have recently commented on TMO shares. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a research note on Monday, October 1st. ValuEngine upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. UBS Group initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, October 9th. They issued a “buy” rating and a $295.00 target price for the company. Citigroup lifted their price target on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, Goldman Sachs Group downgraded Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $261.45.
The company has a market cap of $98.84 billion, a PE ratio of 23.03, a PEG ratio of 1.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.27.
The business 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 dividend of $0.17 per share. The ex-dividend date is Friday, December 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 7.17%.
Thermo Fisher Scientific declared that its board has approved a stock buyback program on Friday, September 7th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of TMO. FMR LLC lifted its position in shares of Thermo Fisher Scientific by 18.5% during the 3rd quarter. FMR LLC now owns 6,499,139 shares of the medical research company’s stock worth $1,586,310,000 after buying an additional 1,016,082 shares in the last quarter. Cantillon Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $130,790,000. Bank of Montreal Can bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $95,849,000. Pendal Group Ltd bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $90,332,000. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $70,775,000. 85.22% of the stock is currently owned by hedge funds and other institutional investors.
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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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