Investec Asset Management North America Inc. trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 88,191 shares of the medical research company’s stock after selling 23,929 shares during the period. Thermo Fisher Scientific comprises 2.3% of Investec Asset Management North America Inc.’s investment portfolio, making the stock its 11th biggest position. Investec Asset Management North America Inc.’s holdings in Thermo Fisher Scientific were worth $24,140,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of TMO. Kentucky Retirement Systems bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at approximately $3,322,000. Neuberger Berman Group LLC grew its position in shares of Thermo Fisher Scientific by 35.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 210,762 shares of the medical research company’s stock valued at $51,443,000 after acquiring an additional 55,336 shares during the period. B. Riley Wealth Management Inc. bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at approximately $2,468,000. Lombard Odier Asset Management USA Corp bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at approximately $2,441,000. Finally, Legal & General Group Plc grew its position in shares of Thermo Fisher Scientific by 4.0% during the 3rd quarter. Legal & General Group Plc now owns 1,847,206 shares of the medical research company’s stock valued at $450,856,000 after acquiring an additional 70,872 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.
In other Thermo Fisher Scientific news, CAO Peter E. Hornstra sold 5,920 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $250.00, for a total value of $1,480,000.00. Following the sale, the chief accounting officer now directly owns 17,057 shares in the company, valued at approximately $4,264,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory J. Herrema sold 3,299 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $263.05, for a total transaction of $867,801.95. The disclosure for this sale can be found here. Insiders sold a total of 36,927 shares of company stock worth $9,388,124 over the last quarter. Corporate insiders own 0.49% of the company’s stock.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.07. Thermo Fisher Scientific had a net margin of 12.06% and a return on equity of 16.86%. The business had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the company posted $2.50 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 12.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Friday, March 15th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.
A number of research firms have recently weighed in on TMO. Bank of America reissued a “buy” rating and set a $300.00 target price (up from $285.00) on shares of Thermo Fisher Scientific in a research report on Tuesday, April 16th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Tuesday, April 9th. Deutsche Bank raised their price objective on shares of Thermo Fisher Scientific from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $270.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, BTIG Research raised their price objective on shares of Thermo Fisher Scientific to $310.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $293.33.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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