Karp Capital Management Corp reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,745 shares of the medical research company’s stock after selling 460 shares during the period. Karp Capital Management Corp’s holdings in Thermo Fisher Scientific were worth $1,402,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $322,000. Acadian Asset Management LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $212,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $10,974,000. Commonwealth Equity Services LLC boosted its position in shares of Thermo Fisher Scientific by 7.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 41,335 shares of the medical research company’s stock valued at $8,562,000 after purchasing an additional 2,882 shares during the period. Finally, CWM LLC boosted its position in shares of Thermo Fisher Scientific by 50.1% in the 2nd quarter. CWM LLC now owns 2,179 shares of the medical research company’s stock valued at $451,000 after purchasing an additional 727 shares during the period. 86.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on TMO shares. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price target for the company in a research report on Monday, October 1st. Barclays increased their price target on Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, September 24th. Morgan Stanley increased their price target on Thermo Fisher Scientific from $242.00 to $254.00 and gave the company an “overweight” rating in a research report on Wednesday, October 10th. Cleveland Research lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Finally, Citigroup increased their price target on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $263.45.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the company posted $2.31 EPS. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities analysts expect that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be given 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 0.27%. Thermo Fisher Scientific’s payout ratio is presently 7.17%.
Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback plan on Friday, September 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Thermo Fisher Scientific news, Director Tyler Jacks sold 4,772 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $239.75, for a total transaction of $1,144,087.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 125,520 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $247.50, for a total value of $31,066,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 147,527 shares of company stock valued at $36,467,332 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.
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About Thermo Fisher Scientific
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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