Pinebridge Investments L.P. Acquires 26,466 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pinebridge Investments L.P. grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 26.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125,815 shares of the medical research company's stock after purchasing an additional 26,466 shares during the quarter. Pinebridge Investments L.P.'s holdings in Thermo Fisher Scientific were worth $65,453,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company lowered their price target on Thermo Fisher Scientific from $680.00 to $580.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Raymond James restated an "outperform" rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. UBS Group boosted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Finally, Morgan Stanley increased their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $642.67.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The sale 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 business's stock in a transaction on 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 owns 10,816 shares of the company's stock, valued at $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 have sold a total of 23,900 shares of company stock worth $13,106,062 over the last ninety days. Insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $434.17 on Wednesday. The stock has a market cap of $163.90 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.99 and a beta of 0.86. The company has a fifty day moving average price of $493.38 and a two-hundred day moving average price of $530.71. Thermo Fisher Scientific Inc. has a one year low of $409.85 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts' consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities 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 was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $0.43 per share. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.41%.

Thermo Fisher Scientific 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.

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