Norges Bank Makes New Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Norges Bank bought 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 Form 13F filing with the Securities and Exchange Commission. The firm bought 6,054,541 shares of the medical research company's stock, valued at approximately $3,149,754,000. Norges Bank owned approximately 1.58% of Thermo Fisher Scientific as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Howard Capital Management Group LLC boosted its stake in Thermo Fisher Scientific by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company's stock valued at $33,759,000 after acquiring an additional 286 shares during the last quarter. Principal Financial Group Inc. increased its position in Thermo Fisher Scientific by 22.1% in the third quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company's stock worth $771,876,000 after buying an additional 225,568 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Thermo Fisher Scientific by 2.0% during the 3rd quarter. D.A. Davidson & CO. now owns 10,158 shares of the medical research company's stock valued at $6,283,000 after buying an additional 201 shares during the last quarter. Townsquare Capital LLC increased its holdings in Thermo Fisher Scientific by 4.3% in the 3rd quarter. Townsquare Capital LLC now owns 82,905 shares of the medical research company's stock worth $51,283,000 after acquiring an additional 3,447 shares during the last quarter. Finally, Cynosure Group LLC raised its stake in Thermo Fisher Scientific by 14.5% in the 3rd quarter. Cynosure Group LLC now owns 1,655 shares of the medical research company's stock valued at $1,024,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Remove Ads

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares of the company's stock, valued at $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $13,106,062 in the last 90 days. Insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Trading Down 1.6 %

Shares of TMO traded down $8.19 during trading hours on Monday, hitting $491.97. The company had a trading volume of 945,617 shares, compared to its average volume of 1,612,143. The firm has a market cap of $185.60 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52-week low of $484.69 and a 52-week high of $627.88. The stock's 50 day moving average price is $541.60 and its 200 day moving average price is $551.84. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's payout ratio is currently 10.41%.

Analyst Ratings Changes

TMO has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and issued a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a report on Friday, January 31st. Citigroup reduced their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Scotiabank raised their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average price target of $653.23.

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.