Chesley Taft & Associates LLC Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Chesley Taft & Associates LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,768 shares of the medical research company’s stock after buying an additional 1,822 shares during the period. Chesley Taft & Associates LLC’s holdings in Thermo Fisher Scientific were worth $20,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TMO. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $3,149,754,000. GAMMA Investing LLC lifted its position in shares of Thermo Fisher Scientific by 60,610.9% during the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company’s stock valued at $1,203,859,000 after buying an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock worth $1,604,338,000 after buying an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in Thermo Fisher Scientific by 1,905.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock valued at $469,889,000 after acquiring an additional 858,193 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Thermo Fisher Scientific by 68,617.0% in the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock worth $396,810,000 after purchasing an additional 761,649 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TMO shares. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Argus cut their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank of Canada dropped their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $605.30.

Insider Buying and Selling

In other news, SVP Michael A. Boxer sold 3,775 shares of the firm’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 sale, the senior vice president now directly owns 10,816 shares in the company, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s 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 transaction, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $403.68 on Thursday. The firm has a 50-day simple moving average of $424.35 and a two-hundred day simple moving average of $497.38. The stock has a market cap of $152.39 billion, a PE ratio of 24.42, a P/E/G ratio of 2.99 and a beta of 0.82. Thermo Fisher Scientific Inc. has a 1-year low of $390.50 and a 1-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) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the firm earned $5.11 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

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.