Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Tudor Investment Corp Et Al

Posted by Defense World Staff on Mar 8th, 2023

Tudor Investment Corp Et Al lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 81.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 720 shares of the medical research company’s stock after selling 3,140 shares during the quarter. Tudor Investment Corp Et Al’s holdings in Thermo Fisher Scientific were worth $365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brown Advisory Inc. boosted its position in Thermo Fisher Scientific by 7.5% during the 3rd quarter. Brown Advisory Inc. now owns 2,199,500 shares of the medical research company’s stock valued at $1,115,564,000 after purchasing an additional 153,451 shares during the period. UBS Asset Management Americas Inc. boosted its position in Thermo Fisher Scientific by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,127,006 shares of the medical research company’s stock valued at $1,155,560,000 after purchasing an additional 181,476 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Thermo Fisher Scientific by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,045,569 shares of the medical research company’s stock valued at $1,208,216,000 after purchasing an additional 32,043 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Thermo Fisher Scientific by 168.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,014,472 shares of the medical research company’s stock worth $1,094,244,000 after acquiring an additional 1,262,989 shares during the period. Finally, Franklin Resources Inc. boosted its position in Thermo Fisher Scientific by 8.2% during the 2nd quarter. Franklin Resources Inc. now owns 1,924,889 shares of the medical research company’s stock worth $1,045,754,000 after acquiring an additional 145,708 shares during the period. Institutional investors and hedge funds own 85.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TMO. Barclays boosted their price target on Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Cowen boosted their price target on Thermo Fisher Scientific from $690.00 to $711.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Robert W. Baird reduced their price target on Thermo Fisher Scientific from $710.00 to $693.00 in a research report on Thursday, February 2nd. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $525.00 to $505.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 3rd. Finally, Citigroup boosted their price objective on Thermo Fisher Scientific from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $647.00.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 1,600 shares of the company’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $571.96, for a total transaction of $915,136.00. Following the transaction, the chief executive officer now directly owns 128,705 shares of the company’s stock, valued at $73,614,111.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $571.96, for a total value of $915,136.00. Following the transaction, the chief executive officer now owns 128,705 shares in the company, valued at $73,614,111.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 20,000 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $569.18, for a total value of $11,383,600.00. Following the completion of the transaction, the chief executive officer now owns 128,705 shares in the company, valued at approximately $73,256,311.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,775 shares of company stock valued at $15,865,353. Company insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.7 %

Shares of Thermo Fisher Scientific stock opened at $548.83 on Wednesday. The stock’s fifty day moving average is $566.16 and its 200-day moving average is $545.91. The firm has a market capitalization of $211.54 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.88 and a beta of 0.79. The company has a quick ratio of 1.15, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. Thermo Fisher Scientific Inc. has a 12-month low of $475.77 and a 12-month high of $618.35.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last announced its earnings results on Wednesday, February 1st. The medical research company reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.21. The company had revenue of $11.45 billion for the quarter, compared to analyst estimates of $10.41 billion. Thermo Fisher Scientific had a return on equity of 21.42% and a net margin of 15.47%. Thermo Fisher Scientific’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.54 earnings per share. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.72 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.26%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, March 14th. Thermo Fisher Scientific’s payout ratio is presently 6.81%.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase program on Thursday, November 10th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Profile

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.