Cigna Investments Inc. New acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the fourth quarter, Holdings Channel reports. The fund acquired 14,539 shares of the company’s stock, valued at approximately $2,051,000.
Other hedge funds also recently modified their holdings of the company. Capstone Asset Management Co. boosted its stake in shares of Thermo Fisher Scientific by 10.3% in the third quarter. Capstone Asset Management Co. now owns 9,458 shares of the company’s stock worth $1,504,000 after buying an additional 885 shares during the period. Atria Investments LLC boosted its stake in shares of Thermo Fisher Scientific by 26.3% in the third quarter. Atria Investments LLC now owns 4,500 shares of the company’s stock worth $716,000 after buying an additional 938 shares during the period. Creative Planning boosted its stake in shares of Thermo Fisher Scientific by 29.8% in the third quarter. Creative Planning now owns 16,321 shares of the company’s stock worth $2,596,000 after buying an additional 3,744 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Thermo Fisher Scientific by 2.2% in the third quarter. Raymond James Trust N.A. now owns 5,958 shares of the company’s stock worth $947,000 after buying an additional 129 shares during the period. Finally, Fisher Asset Management LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth about $236,000. 87.80% of the stock is currently owned by institutional investors and hedge funds.
Thermo Fisher Scientific Inc. (NYSE:TMO) opened at 157.89 on Monday. The stock’s 50 day moving average price is $156.21 and its 200 day moving average price is $150.16. The company has a market capitalization of $61.64 billion, a price-to-earnings ratio of 31.01 and a beta of 1.10. Thermo Fisher Scientific Inc. has a 12 month low of $137.40 and a 12 month high of $161.66.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Tuesday, January 31st. The company reported $2.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.03. Thermo Fisher Scientific had a return on equity of 15.41% and a net margin of 11.06%. The business earned $4.95 billion during the quarter, compared to analyst estimates of $4.98 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post $9.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.38%. The ex-dividend date is Monday, March 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 11.79%.
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A number of analysts recently issued reports on the company. Zacks Investment Research raised Thermo Fisher Scientific from a “sell” rating to a “hold” rating in a report on Monday, February 13th. Leerink Swann reaffirmed a “buy” rating and issued a $175.00 price target on shares of Thermo Fisher Scientific in a report on Sunday, November 20th. Goldman Sachs Group Inc reaffirmed a “conviction-buy” rating and issued a $168.00 price target (down previously from $170.00) on shares of Thermo Fisher Scientific in a report on Monday, December 12th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $163.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, January 18th. Finally, Jefferies Group LLC lowered their price target on Thermo Fisher Scientific from $163.00 to $160.00 and set a “hold” rating on the stock in a report on Monday, January 23rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $172.45.
In other Thermo Fisher Scientific news, SVP Thomas W. Loewald sold 4,049 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $158.71, for a total transaction of $642,616.79. Following the completion of the sale, the senior vice president now owns 42,809 shares of the company’s stock, valued at $6,794,216.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Seth H. Hoogasian sold 3,142 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $158.71, for a total value of $498,666.82. Following the sale, the vice president now directly owns 31,104 shares of the company’s stock, valued at approximately $4,936,515.84. The disclosure for this sale can be found here. Insiders have sold 56,432 shares of company stock valued at $8,957,038 in the last three months. 0.52% of the stock is currently owned by corporate insiders.
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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