Pinebridge Investments L.P. Acquires 26,466 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pinebridge Investments L.P. boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,815 shares of the medical research company's stock after acquiring an additional 26,466 shares during the period. Pinebridge Investments L.P.'s holdings in Thermo Fisher Scientific were worth $65,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $28,000. FPC Investment Advisory Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at $30,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on TMO. Scotiabank cut their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday. StockNews.com cut Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Friday. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $616.95.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,900 shares of company stock valued at $13,106,062. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $4.86 during mid-day trading on Monday, hitting $419.38. 928,001 shares of the stock were exchanged, compared to its average volume of 1,740,480. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company has a market capitalization of $158.31 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.99 and a beta of 0.86. The company has a 50-day simple moving average of $487.28 and a 200 day simple moving average of $526.70. Thermo Fisher Scientific Inc. has a 12 month low of $409.85 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the prior year, the firm earned $5.11 EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

About Thermo Fisher Scientific

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.