BlueSpruce Investments LP Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

BlueSpruce Investments LP grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 28.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 813,821 shares of the medical research company's stock after buying an additional 178,190 shares during the quarter. Thermo Fisher Scientific accounts for 8.6% of BlueSpruce Investments LP's investment portfolio, making the stock its 5th largest holding. BlueSpruce Investments LP owned 0.21% of Thermo Fisher Scientific worth $423,374,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus decreased their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Raymond James reissued an "outperform" rating and issued a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley increased their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average target price of $607.43.

Thermo Fisher Scientific Trading Down 1.9 %

TMO stock traded down $7.85 during trading on Friday, reaching $402.93. 2,318,607 shares of the stock traded hands, compared to its average volume of 1,796,537. The business's 50 day moving average price is $466.94 and its 200-day moving average price is $516.54. The firm has a market capitalization of $152.10 billion, a PE ratio of 24.38, a P/E/G ratio of 2.99 and a beta of 0.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 52-week low of $401.87 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter last year, the firm posted $5.11 earnings per share. Thermo Fisher Scientific's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the sale, the senior vice president now directly owns 10,816 shares of the company's stock, valued at approximately $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,075 shares of company stock valued at $7,305,942. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Company Profile

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.