Magellan Asset Management Ltd Acquires New Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Magellan Asset Management Ltd acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,771 shares of the medical research company's stock, valued at approximately $3,002,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Thermo Fisher Scientific by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock valued at $17,297,426,000 after buying an additional 196,864 shares in the last quarter. State Street Corp raised its position in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock worth $10,100,655,000 after buying an additional 124,996 shares in the last quarter. Geode Capital Management LLC boosted its stake in Thermo Fisher Scientific by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock valued at $4,075,540,000 after purchasing an additional 197,442 shares in the last quarter. Norges Bank bought a new stake in Thermo Fisher Scientific in the fourth quarter worth about $3,149,754,000. Finally, Franklin Resources Inc. lifted its stake in Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TMO. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 target price for the company in a report on Friday, January 10th. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Bank of America lowered their price objective on 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. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $653.23.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 3,775 shares of the firm's stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company's stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Trading Down 1.3 %

Shares of TMO traded down $5.69 during mid-day trading on Tuesday, reaching $432.18. The company's stock had a trading volume of 1,452,996 shares, compared to its average volume of 1,654,787. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 52 week low of $411.21 and a 52 week high of $627.88. The company's fifty day moving average price is $529.09 and its two-hundred day moving average price is $545.75. The stock has a market cap of $163.04 billion, a PE ratio of 26.17, a P/E/G ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data 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, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. Thermo Fisher Scientific's payout ratio is 10.41%.

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.