Mirae Asset Global Investments Co. Ltd. Purchases 16,783 Shares of Thermo Fisher Scientific Inc. $TMO

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 23.5% in the fourth quarter, Holdings Channel reports. The fund owned 88,170 shares of the medical research company’s stock after buying an additional 16,783 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $51,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in Thermo Fisher Scientific during the 3rd quarter valued at approximately $28,000. Highline Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the period. Beacon Financial Strategies CORP acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. Olistico Wealth LLC acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at $29,000. Finally, Cloud Capital Management LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $31,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the topic of several research reports. Evercore restated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Citigroup lifted their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. TD Cowen reduced their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, UBS Group restated a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $631.25.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $515.88 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock has a market cap of $191.71 billion, a P/E ratio of 29.08, a PEG ratio of 2.85 and a beta of 0.97. The company’s 50-day simple moving average is $501.94 and its 200 day simple moving average is $549.89.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter last year, the company earned $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.60%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This trade represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.