Thermo Fisher Scientific Inc (NYSE:TMO) Sees Large Increase in Short Interest

Thermo Fisher Scientific Inc (NYSE:TMO) was the target of a significant increase in short interest during the month of July. As of July 14th, there was short interest totalling 3,746,211 shares, an increase of 77.8% from the June 30th total of 2,107,353 shares. Based on an average daily trading volume, of 1,328,438 shares, the short-interest ratio is currently 2.8 days. Currently, 1.0% of the shares of the company are short sold.

Thermo Fisher Scientific (TMO) traded down 0.19% during trading on Friday, reaching $172.57. 1,182,702 shares of the company’s stock traded hands. The company has a 50-day moving average price of $176.71 and a 200 day moving average price of $166.56. The firm has a market capitalization of $67.32 billion, a PE ratio of 30.06 and a beta of 1.06. Thermo Fisher Scientific has a one year low of $139.07 and a one year high of $182.87.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. On average, analysts anticipate that Thermo Fisher Scientific will post $9.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.35%. Thermo Fisher Scientific’s payout ratio is 10.45%.

In other news, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $176.26, for a total value of $440,650.00. Following the completion of the sale, the chief financial officer now directly owns 37,790 shares of the company’s stock, valued at $6,660,865.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel P. Shine sold 4,688 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total transaction of $805,773.44. Following the completion of the sale, the insider now directly owns 29,200 shares of the company’s stock, valued at $5,018,896. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,506 shares of company stock valued at $6,834,758. 0.49% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its position in shares of Thermo Fisher Scientific by 25.4% in the second quarter. Toronto Dominion Bank now owns 134,277 shares of the medical research company’s stock valued at $23,424,000 after buying an additional 27,178 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Thermo Fisher Scientific by 13.9% in the second quarter. Advisory Services Network LLC now owns 7,850 shares of the medical research company’s stock valued at $1,370,000 after buying an additional 957 shares during the last quarter. Beaton Management Co. Inc. purchased a new position in shares of Thermo Fisher Scientific during the second quarter valued at $1,256,000. WINTON GROUP Ltd boosted its position in shares of Thermo Fisher Scientific by 5,332.5% in the second quarter. WINTON GROUP Ltd now owns 94,036 shares of the medical research company’s stock valued at $16,406,000 after buying an additional 92,305 shares during the last quarter. Finally, Millie Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 0.4% in the second quarter. Millie Capital Management LLC now owns 19,149 shares of the medical research company’s stock valued at $3,341,000 after buying an additional 75 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on TMO. Bank of America Corporation increased their price objective on shares of Thermo Fisher Scientific from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Cleveland Research raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. Jefferies Group LLC raised their target price on shares of Thermo Fisher Scientific from $160.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, April 28th. BidaskClub cut shares of Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $201.00 target price (up from $182.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 10th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $188.56.

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Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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