Millstone Evans Group LLC Acquires Shares of 2,881 Thermo Fisher Scientific Inc. (NYSE:TMO)

Millstone Evans Group LLC bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,881 shares of the medical research company’s stock, valued at approximately $1,499,000. Thermo Fisher Scientific accounts for about 1.0% of Millstone Evans Group LLC’s holdings, making the stock its 18th biggest position.

Several other institutional investors have also added to or reduced their stakes in TMO. State Street Corp increased its stake in shares of Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after buying an additional 124,996 shares during the period. FMR LLC raised its holdings in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares during the period. Franklin Resources Inc. increased its position in shares of Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after buying an additional 262,062 shares during the period. Finally, Amundi lifted its holdings in Thermo Fisher Scientific by 13.5% in the fourth quarter. Amundi now owns 2,860,847 shares of the medical research company’s stock worth $1,556,689,000 after buying an additional 340,263 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the 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 completion of the sale, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. This represents a 25.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock worth $13,106,062. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $518.04 on Friday. 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 $493.30 and a 1-year high of $627.88. The stock has a market capitalization of $195.44 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.99 and a beta of 0.79. The business’s fifty day moving average price is $546.15 and its 200-day moving average price is $556.26.

Thermo Fisher Scientific (NYSE:TMO) last released 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 return on equity of 17.51% and a net margin of 14.78%. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.43 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

Wall Street Analysts Forecast Growth

TMO has been the subject of several research reports. Morgan Stanley increased their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Raymond James reissued an “outperform” rating and set a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Scotiabank increased their price target on shares of 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. Citigroup dropped their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company 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.