Renaissance Technologies LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Renaissance Technologies LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 270.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,344 shares of the medical research company’s stock after purchasing an additional 132,393 shares during the period. Renaissance Technologies LLC’s holdings in Thermo Fisher Scientific were worth $94,341,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $28,000. Missouri Trust & Investment Co purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $29,000. Pillar Financial Advisors LLC purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Scotiabank raised their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Bank of America reduced their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $653.23.

Thermo Fisher Scientific Stock Down 4.6 %

TMO stock opened at $417.57 on Wednesday. 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 Inc. has a 1-year low of $411.21 and a 1-year high of $627.88. The stock has a market capitalization of $157.53 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.99 and a beta of 0.86. The business has a fifty day moving average price of $522.77 and a 200-day moving average price of $543.48.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.43 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is presently 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value 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 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, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were 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 directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific 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.