Adage Capital Partners GP L.L.C. Buys 32,591 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Adage Capital Partners GP L.L.C. lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 390,315 shares of the medical research company's stock after purchasing an additional 32,591 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.10% of Thermo Fisher Scientific worth $203,054,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMO. Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. bought a new stake in Thermo Fisher Scientific during the fourth quarter worth $28,000. Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $29,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 directly owns 115,174 shares of the company's stock, valued at $59,506,950.58. This represents a 7.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company's 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 $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Trading Up 2.9 %

Shares of Thermo Fisher Scientific stock opened at $434.17 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $493.38 and a 200 day simple moving average of $530.71. Thermo Fisher Scientific Inc. has a 12-month low of $409.85 and a 12-month high of $627.88. The company has a market capitalization of $163.90 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts' consensus estimates 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, 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 0.40%. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's payout ratio is currently 10.41%.

Analysts Set New Price Targets

TMO has been the subject of a number of research reports. 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. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $680.00 to $580.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a report on Friday, January 31st. Scotiabank lifted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a research report on Monday, February 3rd. Finally, Citigroup cut their price target on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $642.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.