Rhenman & Partners Asset Management AB reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 37.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,640 shares of the medical research company's stock after selling 9,460 shares during the quarter. Rhenman & Partners Asset Management AB's holdings in Thermo Fisher Scientific were worth $8,136,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in TMO. Stonegate Investment Group LLC increased its position in Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company's stock valued at $3,531,000 after buying an additional 18 shares in the last quarter. Semus Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 4.0% in the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company's stock valued at $245,000 after purchasing an additional 18 shares during the last quarter. Bangor Savings Bank boosted its stake in Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock worth $174,000 after purchasing an additional 19 shares in the last quarter. Eagle Rock Investment Company LLC raised its holdings in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company's stock worth $3,882,000 after buying an additional 19 shares during the last quarter. Finally, KRS Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 1.5% during the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company's stock worth $685,000 after buying an additional 20 shares during the period. Institutional investors own 89.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on TMO shares. StockNews.com upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price objective for the company in a research note on Friday, January 10th. Raymond James reissued an "outperform" rating and set 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 increased their price target 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. Finally, Morgan Stanley upped their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $647.09.
View Our Latest Analysis on TMO
Insider Buying and Selling
In other news, CFO Stephen Williamson sold 9,825 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares of the company's stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the chief executive officer now directly owns 115,174 shares of the company's stock, 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 ninety days, insiders sold 23,900 shares of company stock worth $13,106,062. Insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Price Performance
Shares of Thermo Fisher Scientific stock traded down $32.84 during trading hours on Thursday, reaching $420.71. 1,697,402 shares of the company's stock were exchanged, compared to its average volume of 2,071,703. The business has a fifty day moving average of $516.75 and a two-hundred day moving average of $541.75. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $158.72 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific Inc. has a 1 year low of $409.85 and a 1 year high of $627.88.
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, topping the consensus estimate 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, research 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given 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 annualized dividend and a dividend yield of 0.41%. Thermo Fisher Scientific's payout ratio is presently 10.41%.
Thermo Fisher Scientific Company Profile
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Free Report)
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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