Key Points
- CEO Marc Casper sold 5,000 shares on March 4 at an average price of $512.40 for a total of $2,562,000, trimming his stake by 3.88% to 123,925 shares valued at about $63.5 million.
- The company raised its quarterly dividend to $0.47 (annualized $1.88, yield ~0.4%) and the board authorized a $5.0 billion share buyback program (about 2.4% of shares), signaling management confidence in the stock.
- Thermo Fisher beat quarterly estimates with $6.57 EPS on $12.22 billion revenue (up 7.2% YoY); analysts are broadly positive (consensus "Moderate Buy" with an average target near $634) and the company has a market cap of about $187.6 billion and a P/E of ~28.5.
Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) CEO Marc Casper sold 5,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Thermo Fisher Scientific Stock Performance
NYSE:TMO traded down $13.82 on Friday, hitting $505.02. The company's stock had a trading volume of 158,385 shares, compared to its average volume of 2,484,324. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The firm has a market capitalization of $187.60 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96. The stock has a fifty day moving average of $568.86 and a two-hundred day moving average of $548.23. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter last year, the firm posted $6.10 EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. Thermo Fisher Scientific's payout ratio is currently 9.70%.
Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.
Institutional Trading of Thermo Fisher Scientific
Several large investors have recently modified their holdings of the stock. Bayban bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $93,000. Pure Financial Advisors LLC increased its stake in Thermo Fisher Scientific by 6.2% in the fourth quarter. Pure Financial Advisors LLC now owns 1,407 shares of the medical research company's stock valued at $815,000 after purchasing an additional 82 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Thermo Fisher Scientific by 1.6% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,136 shares of the medical research company's stock valued at $1,238,000 after purchasing an additional 34 shares during the period. SHP Wealth Management acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $102,000. Finally, S Harris Financial Group LLC bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $363,000. Institutional investors and hedge funds own 89.23% of the company's stock.
Analysts Set New Price Targets
Several analysts recently issued reports on TMO shares. Citigroup boosted their price target on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, January 30th. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a "buy" rating and a $685.00 target price on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Barclays upped their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Finally, Stifel Nicolaus lifted their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a "buy" rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $633.68.
Check Out Our Latest Report on TMO
About Thermo Fisher Scientific
(
Get Free Report)
Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
Further Reading
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