Thermo Fisher Scientific Inc. $TMO Shares Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,902 shares of the medical research company’s stock after purchasing an additional 1,193 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $2,840,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TMO. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 7.4% in the third quarter. Capital World Investors now owns 10,285,145 shares of the medical research company’s stock worth $4,988,132,000 after buying an additional 706,572 shares during the period. Franklin Resources Inc. raised its holdings in shares of Thermo Fisher Scientific by 21.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock valued at $2,874,069,000 after buying an additional 1,028,125 shares during the period. Norges Bank purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $2,264,615,000. Bank of New York Mellon Corp grew its position in Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after acquiring an additional 1,262,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Thermo Fisher Scientific by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after purchasing an additional 74,971 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $474.49 on Friday. The company has a market cap of $176.26 billion, a P/E ratio of 26.75, a PEG ratio of 2.74 and a beta of 0.96. The business has a 50 day moving average of $543.42 and a two-hundred day moving average of $547.90. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week 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.

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

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.60%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. 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. UBS Group reissued a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Finally, HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

About Thermo Fisher Scientific

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.