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

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Thermo Fisher Scientific Inc. (NYSE:TMO) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 3,769,071 shares, an increase of 47.0% from the July 13th total of 2,564,556 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 1,994,647 shares, the short-interest ratio is presently 1.9 days.

TMO stock opened at $230.00 on Friday. The stock has a market cap of $93.22 billion, a P/E ratio of 24.24, a P/E/G ratio of 1.69 and a beta of 1.13. Thermo Fisher Scientific has a 52 week low of $172.15 and a 52 week high of $236.29. The company has a current ratio of 1.58, a quick ratio of 1.11 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.12. The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.90 billion. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.30 earnings per share. equities analysts predict that Thermo Fisher Scientific will post 10.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 17th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 7.17%.

In other news, CFO Stephen Williamson sold 2,500 shares of Thermo Fisher Scientific stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $212.00, for a total value of $530,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patrick M. Durbin sold 20,550 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total transaction of $4,806,028.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,050 shares of company stock worth $37,585,029. Insiders own 0.49% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TMO. Fort Washington Investment Advisors Inc. OH boosted its holdings in Thermo Fisher Scientific by 4.9% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 6,497 shares of the medical research company’s stock worth $1,341,000 after buying an additional 302 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Thermo Fisher Scientific by 0.3% during the first quarter. Wells Fargo & Company MN now owns 3,198,908 shares of the medical research company’s stock worth $660,446,000 after buying an additional 9,820 shares in the last quarter. Tower Bridge Advisors boosted its holdings in Thermo Fisher Scientific by 28.5% during the first quarter. Tower Bridge Advisors now owns 31,314 shares of the medical research company’s stock worth $6,465,000 after buying an additional 6,950 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Thermo Fisher Scientific by 10.7% during the first quarter. Daiwa Securities Group Inc. now owns 47,700 shares of the medical research company’s stock worth $9,848,000 after buying an additional 4,606 shares in the last quarter. Finally, S&CO Inc. boosted its holdings in Thermo Fisher Scientific by 2.2% during the first quarter. S&CO Inc. now owns 50,377 shares of the medical research company’s stock worth $10,401,000 after buying an additional 1,090 shares in the last quarter. 85.69% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on TMO shares. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $216.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, April 26th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $240.00 target price on the stock in a report on Monday, April 30th. ValuEngine downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. Finally, Leerink Swann lifted their target price on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $239.08.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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