KLP Kapitalforvaltning AS Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

KLP Kapitalforvaltning AS bought a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 135,283 shares of the medical research company's stock, valued at approximately $70,423,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. State Street Corp lifted its holdings in Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock valued at $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. FMR LLC lifted its stake in shares of Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company's stock worth $4,872,761,000 after buying an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC boosted its position in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Franklin Resources Inc. raised its holdings in Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. Finally, Amundi grew its position in shares of Thermo Fisher Scientific by 13.5% in the fourth quarter. Amundi now owns 2,860,847 shares of the medical research company's stock valued at $1,556,689,000 after purchasing an additional 340,263 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley upped 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. StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th. Citigroup decreased their target price 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. Bank of America reduced their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Finally, Wells Fargo & Company increased their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average price target of $653.23.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Boxer sold 3,775 shares of the company's 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 sale, the senior vice president now directly owns 10,816 shares of the company's stock, valued at approximately $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $13,106,062 over the last 90 days. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Down 0.2 %

Shares of Thermo Fisher Scientific stock traded down $0.94 during trading hours on Wednesday, reaching $513.40. 1,216,076 shares of the company were exchanged, compared to its average volume of 1,535,513. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The firm has a market cap of $193.68 billion, a PE ratio of 31.06, a PEG ratio of 2.99 and a beta of 0.79. 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 stock's fifty day moving average is $543.80 and its 200 day moving average is $553.93.

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 for the quarter, beating 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%. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.43 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.34%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio is presently 10.41%.

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.