Confluence Investment Management LLC Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Confluence Investment Management LLC bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 87,203 shares of the medical research company’s stock, valued at approximately $50,683,000.

Several other hedge funds also recently modified their holdings of TMO. Norges Bank bought a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $2,909,524,000. International Assets Investment Management LLC boosted its stake in Thermo Fisher Scientific by 61,995.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock worth $535,923,000 after acquiring an additional 1,008,045 shares during the last quarter. Veritas Asset Management LLP boosted its stake in Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after acquiring an additional 697,383 shares during the last quarter. Winslow Capital Management LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $333,786,000. Finally, Clearbridge Investments LLC boosted its stake in Thermo Fisher Scientific by 33.1% during the 4th quarter. Clearbridge Investments LLC now owns 2,228,730 shares of the medical research company’s stock worth $1,182,987,000 after acquiring an additional 553,695 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.4 %

Shares of NYSE:TMO traded down $2.36 during trading on Tuesday, reaching $565.64. 429,703 shares of the company traded hands, compared to its average volume of 1,478,069. The firm has a market capitalization of $215.92 billion, a price-to-earnings ratio of 36.43, a P/E/G ratio of 2.67 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average is $574.95 and its 200-day moving average is $559.33.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of research reports. Barclays lifted their price target on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, April 25th. HSBC lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $607.94.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,873,516.56. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock valued at $12,532,780 over the last ninety days. Insiders own 0.34% of the company’s stock.

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.