Bornite Capital Management LP acquired a new stake in Thermo Fisher Scientific Inc. (NYSE: TMO – Get Rating) during the 4th quarter, Holdings Channel.com reports. The fund acquired 20,000 shares of the medical research company stock, valued at approximately $ 13,344,000. Thermo Fisher Scientific comprises approximately 4.6% of Bornite Capital Management LP’s holdings, making the stock its 12th largest position.
A number of other hedge funds have also added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC lifted its position in Thermo Fisher Scientific by 1.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 799 shares of the medical research company stock valued at $ 457,000 after acquiring an additional 15 shares in the last quarter. Karp Capital Management Corp lifted its holdings in shares of Thermo Fisher Scientific by 0.5% during the 4th quarter. Karp Capital Management Corp now owns 3,195 shares of the medical research company stock valued at $ 2,132,000 after buying an additional 17 shares during the period. Archer Investment Corp lifted its holdings in shares of Thermo Fisher Scientific by 1.3% during the 4th quarter. Archer Investment Corp now owns 1,317 shares of the medical research company stock valued at $ 879,000 after buying an additional 17 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in shares of Thermo Fisher Scientific by 2.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 647 shares of the medical research company stock valued at $ 432,000 after buying an additional 17 shares during the period. Finally, Mechanics Bank Trust Department lifted its holdings in shares of Thermo Fisher Scientific by 0.9% during the 4th quarter. Mechanics Bank Trust Department now owns 1,963 shares of the medical research company stock valued at $ 1,310,000 after buying an additional 18 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of TMO opened at $ 507.45 on Wednesday. The firm has a market cap of $ 198.65 billion, a P / E ratio of 26.46, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.56 and a quick ratio of 1.10. Thermo Fisher Scientific Inc. has a 1 year low of $ 465.93 and a 1 year high of $ 672.34. The company has a 50 day simple moving average of $ 554.07 and a two-hundred day simple moving average of $ 580.10.
Thermo Fisher Scientific (NYSE: TMO – Get Rating) last posted its earnings results on Thursday, April 28th. The medical research company reported $ 7.25 earnings per share for the quarter, beating the consensus estimate of $ 6.17 by $ 1.08. The company had revenue of $ 11.82 billion during the quarter, compared to analysts’ expectations of $ 10.66 billion. Thermo Fisher Scientific had a net margin of 18.49% and a return on equity of 25.33%. Thermo Fisher Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the company posted $ 7.21 earnings per share. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 22.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be given a $ 0.30 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $ 1.20 dividend on an annualized basis and a dividend yield of 0.24%. Thermo Fisher Scientific’s dividend payout ratio is currently 6.26%.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $ 545.60, for a total transaction of $ 5,456,000.00. Following the sale, the chief executive officer now directly owns 183,373 shares of the company stock, valued at $ 100,048,308.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michel Lagarde sold 13,030 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $ 565.04, for a total value of $ 7,362,471.20. Following the completion of the sale, the chief operating officer now directly owns 15,758 shares of the company stock, valued at $ 8,903,900.32. The disclosure for this sale can be found here. Insiders have sold a total of 42,561 shares of company stock valued at $ 23,557,413 in the last 90 days. 0.43% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on TMO. StockNews.com assumed coverage on Thermo Fisher Scientific in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company cut Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $ 605.00 to $ 525.00 in a report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $ 649.71.
About Thermo Fisher Scientific: (Get Rating)
Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. The company Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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