Mirae Asset Global Investments Co. Ltd. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.6% in the third quarter, HoldingsChannel.com reports. The firm owned 39,954 shares of the medical research company’s stock after acquiring an additional 4,137 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $9,753,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC grew its holdings in Thermo Fisher Scientific by 396.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 620 shares of the medical research company’s stock valued at $151,000 after purchasing an additional 495 shares during the period. Atlantic Trust LLC purchased a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $154,000. Signet Financial Management LLC grew its holdings in Thermo Fisher Scientific by 90,000.0% in the second quarter. Signet Financial Management LLC now owns 901 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 900 shares during the period. Summit Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $201,000. Finally, Searle & CO. purchased a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $203,000. Hedge funds and other institutional investors own 86.98% of the company’s stock.
In other 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 transaction of $31,066,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gregory J. Herrema sold 17,235 shares of the business’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $247.00, for a total transaction of $4,257,045.00. Following the transaction, the insider now directly owns 26,446 shares in the company, valued at $6,532,162. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,527 shares of company stock worth $36,467,332. 0.49% of the stock is currently owned by corporate insiders.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.07. The firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. Thermo Fisher Scientific’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 earnings per share. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current fiscal year.
Thermo Fisher Scientific declared that its board has approved a share repurchase 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 repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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 given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 7.17%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 25th. Robert W. Baird boosted their target price on shares of Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Cleveland Research downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Finally, Citigroup lifted their price target on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus target price of $263.45.
Thermo Fisher Scientific Company Profile
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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