Thermo Fisher Scientific Inc (NYSE:TMO) announced a quarterly dividend on Wednesday, July 12th, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.15 per share by the medical research company on Monday, October 16th. This represents a $0.60 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Thursday, September 14th.
Thermo Fisher Scientific has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Thermo Fisher Scientific to earn $10.59 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 5.7%.
Shares of Thermo Fisher Scientific (NYSE TMO) opened at 194.04 on Wednesday. Thermo Fisher Scientific has a one year low of $139.07 and a one year high of $194.30. The stock has a 50 day moving average of $178.63 and a 200 day moving average of $169.74. The stock has a market cap of $75.70 billion, a P/E ratio of 33.80 and a beta of 1.05.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. The business 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 business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 EPS. On average, analysts forecast that Thermo Fisher Scientific will post $9.35 EPS for the current year.
Several equities research analysts have recently commented on the stock. Deutsche Bank AG set a $200.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company reissued an “outperform” rating and issued a $200.00 target price (up from $195.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 13th. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 target price on shares of Thermo Fisher Scientific in a report on Wednesday, May 17th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Thermo Fisher Scientific has a consensus rating of “Buy” and a consensus price target of $193.19.
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In related news, insider Daniel P. Shine sold 2,026 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $180.97, for a total transaction of $366,645.22. Following the completion of the sale, the insider now owns 20,682 shares of the company’s stock, valued at $3,742,821.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter E. Hornstra sold 3,894 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $185.18, for a total value of $721,090.92. Following the sale, the vice president now directly owns 19,751 shares of the company’s stock, valued at approximately $3,657,490.18. The disclosure for this sale can be found here. Insiders have sold 22,738 shares of company stock valued at $4,021,512 in the last ninety days. Corporate insiders own 0.49% of the company’s stock.
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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