Rhenman & Partners Asset Management AB Grows Position in Thermo Fisher Scientific Inc. $TMO

Rhenman & Partners Asset Management AB grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 169.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,040 shares of the medical research company’s stock after purchasing an additional 18,900 shares during the quarter. Thermo Fisher Scientific makes up 1.6% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 24th biggest position. Rhenman & Partners Asset Management AB’s holdings in Thermo Fisher Scientific were worth $14,570,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of Thermo Fisher Scientific by 8.4% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after purchasing an additional 1,128 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $41,393,000. Weaver Capital Management LLC acquired a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $506,000. VELA Investment Management LLC increased its stake in Thermo Fisher Scientific by 65.5% during the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after purchasing an additional 3,683 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. lifted its stake in shares of Thermo Fisher Scientific by 45.3% during the third quarter. Lockheed Martin Investment Management Co. now owns 11,160 shares of the medical research company’s stock worth $5,413,000 after buying an additional 3,480 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of several research reports. Citigroup upped their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 30th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $501.72 on Friday. The firm has a market cap of $186.38 billion, a PE ratio of 28.28, a P/E/G ratio of 2.89 and a beta of 0.96. 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 business has a 50-day moving average price of $567.28 and a 200 day moving average price of $548.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.10 earnings per share. Sell-side analysts predict 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 will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the transaction, the chief executive officer owned 123,925 shares of the company’s stock, valued at $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company 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.