Fintel reports that on October 2, 2023, Citigroup reiterated coverage of Thermo Fisher Scientific (NYSE:TMO) with a Buy recommendation.
Analyst Price Forecast Suggests 28.83% Upside
As of August 31, 2023, the average one-year price target for Thermo Fisher Scientific is 638.70. The forecasts range from a low of 525.20 to a high of $732.90. The average price target represents an increase of 28.83% from its latest reported closing price of 495.79.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Thermo Fisher Scientific is 44,563MM, an increase of 2.39%. The projected annual non-GAAP EPS is 23.50.
Thermo Fisher Scientific Declares $0.35 Dividend
On July 13, 2023 the company declared a regular quarterly dividend of $0.35 per share ($1.40 annualized). Shareholders of record as of September 15, 2023 will receive the payment on October 13, 2023. Previously, the company paid $0.35 per share.
At the current share price of $495.79 / share, the stock's dividend yield is 0.28%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.23%, the lowest has been 0.16%, and the highest has been 0.34%. The standard deviation of yields is 0.04 (n=237).
The current dividend yield is 1.23 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.59%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3676 funds or institutions reporting positions in Thermo Fisher Scientific. This is a decrease of 53 owner(s) or 1.42% in the last quarter. Average portfolio weight of all funds dedicated to TMO is 0.74%, a decrease of 13.47%. Total shares owned by institutions decreased in the last three months by 9.53% to 381,045K shares. The put/call ratio of TMO is 0.97, indicating a bullish outlook.
What are Other Shareholders Doing?

Capital World Investors holds 12,876K shares representing 3.29% ownership of the company. In it's prior filing, the firm reported owning 12,924K shares, representing a decrease of 0.38%. The firm decreased its portfolio allocation in TMO by 16.08% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,032K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 11,932K shares, representing an increase of 0.83%. The firm decreased its portfolio allocation in TMO by 15.78% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 9,184K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 9,152K shares, representing an increase of 0.35%. The firm decreased its portfolio allocation in TMO by 17.72% over the last quarter.
Price T Rowe Associates holds 9,119K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 8,587K shares, representing an increase of 5.84%. The firm increased its portfolio allocation in TMO by 101.90% over the last quarter.
Geode Capital Management holds 6,979K shares representing 1.78% ownership of the company. In it's prior filing, the firm reported owning 6,986K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in TMO by 18.20% over the last quarter.
Thermo Fisher Scientific Background Information
(This description is provided by the company.)
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding $25 billion. Its Mission is to enable our customers to make the world healthier, cleaner and safer. Whether the customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, the company is here to support them. Its global team of more than 75,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon.
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This story originally appeared on Fintel.
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