Fairtree Asset Management Pty Ltd purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,322 shares of the medical research company's stock, valued at approximately $1,208,000. Thermo Fisher Scientific accounts for about 1.2% of Fairtree Asset Management Pty Ltd's portfolio, making the stock its 21st largest holding.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $3,149,754,000. T. Rowe Price Investment Management Inc. increased its position in shares of Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after purchasing an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after purchasing an additional 858,193 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Thermo Fisher Scientific by 68,617.0% during the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock worth $396,810,000 after purchasing an additional 761,649 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $377,901,000. Hedge funds and other institutional investors own 89.23% of the company's stock.
Insider Buying and Selling at Thermo Fisher Scientific
In other news, SVP Michael A. Boxer sold 3,775 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the sale, the senior vice president now owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares of the company's stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,075 shares of company stock worth $7,305,942. 0.33% of the stock is owned by insiders.
Thermo Fisher Scientific Stock Down 0.3%
TMO stock traded down $1.34 during trading on Friday, hitting $402.41. 2,521,302 shares of the company's stock were exchanged, compared to its average volume of 1,879,798. The business has a 50-day moving average price of $433.07 and a two-hundred day moving average price of $501.01. The stock has a market capitalization of $151.91 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 2.99 and a beta of 0.82. Thermo Fisher Scientific Inc. has a 52-week low of $390.50 and a 52-week high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the previous year, the business earned $5.11 earnings per share. The firm's revenue was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.
Thermo Fisher Scientific Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on TMO. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Citigroup dropped their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada dropped their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Scotiabank dropped their target price on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. Finally, Robert W. Baird dropped their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $607.43.
View Our Latest Stock Report on Thermo Fisher Scientific
Thermo Fisher Scientific Profile
(
Free Report)
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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