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

Renaissance Group LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 54,944 shares of the medical research company’s stock after buying an additional 1,819 shares during the quarter. Renaissance Group LLC’s holdings in Thermo Fisher Scientific were worth $28,583,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $3,149,754,000. Proficio Capital Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 68,617.0% in the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock worth $396,810,000 after acquiring an additional 761,649 shares during the last quarter. Raymond James Financial Inc. bought a new position in Thermo Fisher Scientific during the 4th quarter valued at about $377,901,000. Grantham Mayo Van Otterloo & Co. LLC raised its position in Thermo Fisher Scientific by 140.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company’s stock worth $569,062,000 after purchasing an additional 639,467 shares during the period. Finally, Lindsell Train Ltd bought a new stake in Thermo Fisher Scientific in the fourth quarter worth about $211,858,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Down 0.0 %

Shares of Thermo Fisher Scientific stock opened at $437.80 on Tuesday. Thermo Fisher Scientific Inc. has a 52-week low of $411.21 and a 52-week high of $627.88. The firm’s 50 day moving average price is $529.09 and its 200-day moving average price is $545.75. 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 cap of $165.16 billion, a P/E ratio of 26.49, a PEG ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating 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%. On average, sell-side analysts predict 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 will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.43 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield 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%.

Insider Buying and Selling

In related news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock worth $13,106,062 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. 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 report on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Finally, Morgan Stanley upped their target price on shares of 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 analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $653.23.

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.