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Thermo Fisher Rewards Shareholders with 15.4% Dividend Hike

Scientific instrumentation and software services provider Thermo Fisher Scientific Inc. (NYSE: TMO) recently announced a quarterly dividend of $0.30 per share, a 15.4% increase from the previous dividend of $0.26 per share.

The dividend will be paid on April 14, 2022, to shareholders of record as of March 16, 2022.

The company’s annual dividend of $1.2 per share now reflects a dividend yield of 0.2% based on Wednesday’s closing price.

Notably, the company has been raising its dividend consistently over the past four years, making it an attractive choice for investors.

Stock Rating

Recently, Cowen & Co.analyst Daniel Brennan reiterated a Buy rating on the stock. The analyst, however, raised the price target from $715 to $736, which implies upside potential of 39.2% from current levels.

Consensus among analysts is a Strong Buy based on 6 Buys and 1 Hold. The average Thermo Fisher stock prediction of $690.43 implies upside potential of 30.6% from current levels. Shares have gained 15.8% over the past year.

News Sentiment

News Sentiment for TMO is Neutral based on 18 articles over the past seven days. 100% of the articles have Bullish sentiment, compared to a sector average of 57%.

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