Renaissance Group LLC Buys 1,819 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Renaissance Group LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,944 shares of the medical research company's stock after acquiring an additional 1,819 shares during the quarter. Renaissance Group LLC's holdings in Thermo Fisher Scientific were worth $28,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TMO. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific during the third quarter valued at $26,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $28,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth about $28,000. Missouri Trust & Investment Co bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Finally, Pillar Financial Advisors LLC bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $29,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO traded up $10.47 during trading hours on Friday, reaching $437.91. 2,656,544 shares of the stock traded hands, compared to its average volume of 1,698,824. The company has a market capitalization of $165.21 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The company's 50-day simple moving average is $510.56 and its two-hundred day simple moving average is $538.78. 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 Inc. has a 52-week low of $409.85 and a 52-week high of $627.88.

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Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.78% and a return on equity of 17.51%. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.39%. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TMO shares. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Wells Fargo & Company raised their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Scotiabank boosted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a research note on Monday, February 3rd. StockNews.com upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $647.43.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value 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. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at $59,506,950.58. The trade was a 7.99 % 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 currently owned by insiders.

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.