Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 39.0% in the fourth quarter, Holdings Channel reports. The fund owned 5,228 shares of the medical research company’s stock after purchasing an additional 1,467 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $2,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TMO. International Assets Investment Management LLC increased its stake in shares of Thermo Fisher Scientific by 61,995.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock worth $535,923,000 after acquiring an additional 1,008,045 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Thermo Fisher Scientific by 17,046.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock worth $492,803,000 after purchasing an additional 967,913 shares during the last quarter. Van ECK Associates Corp lifted its position in Thermo Fisher Scientific by 2,567.5% in the fourth quarter. Van ECK Associates Corp now owns 352,217 shares of the medical research company’s stock valued at $186,954,000 after buying an additional 339,013 shares during the last quarter. Rathbones Group PLC boosted its stake in Thermo Fisher Scientific by 111.0% during the third quarter. Rathbones Group PLC now owns 568,970 shares of the medical research company’s stock worth $287,996,000 after buying an additional 299,338 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Thermo Fisher Scientific by 20.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,706,179 shares of the medical research company’s stock valued at $863,617,000 after acquiring an additional 287,446 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on TMO shares. Royal Bank of Canada upped their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. HSBC upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group increased their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $607.35.

Insider Activity at Thermo Fisher Scientific

In related news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares in the company, valued at $660,192.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders sold 52,277 shares of company stock worth $29,649,264 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded up $5.10 during midday trading on Wednesday, hitting $573.82. 373,739 shares of the company’s stock were exchanged, compared to its average volume of 1,539,744. The stock has a market cap of $219.03 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The firm’s 50 day simple moving average is $574.58 and its 200 day simple moving average is $531.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.59 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.39 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.