Thermo Fisher Scientific (NYSE:TMO) Reaches New 1-Year Low – Here’s Why

Thermo Fisher Scientific Inc. (NYSE:TMO) reached a new 52-week low on Tuesday . The company traded as low as $484.27 and last traded at $498.05, with a volume of 2915798 shares traded. The stock had previously closed at $500.16.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup cut their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. UBS Group lifted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $653.23.

Thermo Fisher Scientific Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock has a fifty day moving average of $536.85 and a 200-day moving average of $549.69. The company has a market cap of $184.57 billion, a PE ratio of 29.60, a PEG ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.35%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock worth $13,106,062 over the last three months. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Hedge funds have recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth $26,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at about $28,000. Finally, Missouri Trust & Investment Co purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $29,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's 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; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.