Thermo Fisher Scientific Inc. (TMO) to Issue Quarterly Dividend of $0.35 on July 14th

Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) declared a quarterly dividend on Wednesday, May 24th, RTT News reports. Stockholders of record on Thursday, June 15th will be given a dividend of 0.35 per share by the medical research company on Friday, July 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.27%.

Thermo Fisher Scientific has raised its dividend payment by an average of 16.5% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Thermo Fisher Scientific has a dividend payout ratio of 5.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Thermo Fisher Scientific to earn $26.57 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 5.3%.

Thermo Fisher Scientific Stock Up 1.9 %

NYSE TMO opened at $520.64 on Friday. Thermo Fisher Scientific has a one year low of $475.77 and a one year high of $611.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 1.27. The business has a fifty day moving average price of $553.32 and a 200 day moving average price of $554.74. The company has a market cap of $200.82 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.54 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The medical research company reported $5.03 earnings per share for the quarter, hitting the consensus estimate of $5.03. The firm had revenue of $10.71 billion for the quarter, compared to the consensus estimate of $10.67 billion. Thermo Fisher Scientific had a net margin of 13.75% and a return on equity of 19.16%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the firm posted $7.25 earnings per share. Research analysts anticipate that Thermo Fisher Scientific will post 23.7 EPS for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 7,500 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $544.49, for a total value of $4,083,675.00. Following the sale, the chief executive officer now directly owns 66,655 shares in the company, valued at $36,292,980.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Marc N. Casper sold 1,600 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $534.82, for a total value of $855,712.00. Following the completion of the transaction, the chief executive officer now owns 141,330 shares in the company, valued at $75,586,110.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 7,500 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $544.49, for a total transaction of $4,083,675.00. Following the completion of the sale, the chief executive officer now owns 66,655 shares in the company, valued at $36,292,980.95. The disclosure for this sale can be found here. Insiders sold 19,100 shares of company stock valued at $10,391,587 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several large investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 104,536.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock valued at $4,601,150,000 after acquiring an additional 8,347,260 shares during the last quarter. Providence Capital Advisors LLC raised its holdings in Thermo Fisher Scientific by 61,754.7% during the first quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock worth $10,136,000 after purchasing an additional 5,832,730 shares in the last quarter. Norges Bank acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $3,105,677,000. Morgan Stanley raised its stake in Thermo Fisher Scientific by 17.7% during the 4th quarter. Morgan Stanley now owns 11,730,063 shares of the medical research company’s stock worth $6,459,629,000 after acquiring an additional 1,764,312 shares in the last quarter. Finally, CI Private Wealth LLC purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at $337,244,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TMO shares. SVB Leerink raised their target price on Thermo Fisher Scientific from $620.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. JPMorgan Chase & Co. dropped their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 in a research note on Thursday. Barclays reduced their price target on shares of Thermo Fisher Scientific from $625.00 to $610.00 in a research report on Thursday, April 27th. KeyCorp cut their target price on Thermo Fisher Scientific from $710.00 to $640.00 in a research note on Thursday. Finally, Citigroup decreased their price target on Thermo Fisher Scientific from $700.00 to $650.00 in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $631.31.

Thermo Fisher Scientific Company 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.