Pendal Group Ltd Acquires New Holdings in Thermo Fisher Scientific Inc. (TMO)

Share on StockTwits

Pendal Group Ltd acquired a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 370,093 shares of the medical research company’s stock, valued at approximately $90,332,000. Thermo Fisher Scientific comprises approximately 1.2% of Pendal Group Ltd’s holdings, making the stock its 24th biggest holding. Pendal Group Ltd owned about 0.09% of Thermo Fisher Scientific as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Thermo Fisher Scientific by 0.7% during the third quarter. Wells Fargo & Company MN now owns 3,213,226 shares of the medical research company’s stock valued at $784,285,000 after buying an additional 23,811 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Thermo Fisher Scientific by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,670,961 shares of the medical research company’s stock valued at $553,246,000 after buying an additional 82,255 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Thermo Fisher Scientific by 1.7% during the second quarter. Janus Henderson Group PLC now owns 2,036,659 shares of the medical research company’s stock valued at $421,880,000 after buying an additional 34,401 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Thermo Fisher Scientific by 3.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,566,563 shares of the medical research company’s stock valued at $324,498,000 after buying an additional 46,519 shares during the last quarter. Finally, Findlay Park Partners LLP grew its holdings in shares of Thermo Fisher Scientific by 8.9% during the second quarter. Findlay Park Partners LLP now owns 1,525,000 shares of the medical research company’s stock valued at $315,889,000 after buying an additional 125,000 shares during the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have commented on TMO shares. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price target on the stock in a report on Monday, October 1st. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. UBS Group started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price target on the stock. Citigroup upped their price target on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Finally, Goldman Sachs Group lowered shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Monday, September 17th. Two equities research 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 an average rating of “Buy” and an average target price of $261.45.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.49% of the company’s stock.

Shares of Thermo Fisher Scientific stock opened at $245.57 on Friday. The stock has a market capitalization of $95.91 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.73 and a beta of 1.08. Thermo Fisher Scientific Inc. has a fifty-two week low of $181.51 and a fifty-two week high of $249.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.27.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.07. The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 7.17%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase program on Friday, September 7th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: This news story was posted by Macon Daily and is owned by of Macon Daily. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://macondaily.com/2018/11/09/pendal-group-ltd-acquires-new-holdings-in-thermo-fisher-scientific-inc-tmo.html.

Thermo Fisher Scientific Company Profile

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.

Featured Story: How much money do you need to begin day trading?

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply