First Manhattan CO. LLC. Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

First Manhattan CO. LLC. grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 891,321 shares of the medical research company’s stock after buying an additional 4,991 shares during the period. Thermo Fisher Scientific accounts for approximately 1.4% of First Manhattan CO. LLC.’s portfolio, making the stock its 13th largest holding. First Manhattan CO. LLC.’s holdings in Thermo Fisher Scientific were worth $464,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cypress Advisory Group LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $253,000. S.E.E.D. Planning Group LLC increased its stake in Thermo Fisher Scientific by 6.2% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock worth $5,528,000 after acquiring an additional 618 shares during the last quarter. Czech National Bank lifted its holdings in shares of Thermo Fisher Scientific by 6.6% in the 4th quarter. Czech National Bank now owns 82,934 shares of the medical research company’s stock valued at $43,145,000 after acquiring an additional 5,118 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $4,758,000. Finally, Jacobs & Co. CA grew its position in shares of Thermo Fisher Scientific by 10.7% during the 4th quarter. Jacobs & Co. CA now owns 15,206 shares of the medical research company’s stock worth $7,910,000 after buying an additional 1,473 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now owns 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,075 shares of company stock valued at $7,305,942 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price target on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Argus dropped their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Raymond James reiterated an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Scotiabank cut their price objective on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating for the company in a research report on Friday, April 25th. Finally, Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $607.43.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $410.54 on Friday. The firm has a market capitalization of $154.97 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.99 and a beta of 0.82. 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 1 year low of $402.81 and a 1 year high of $627.88. The firm’s 50 day moving average is $466.94 and its 200-day moving average is $516.54.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $5.11 earnings per share. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.09%.

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.