Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Alphinity Investment Management Pty Ltd

Alphinity Investment Management Pty Ltd raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,276,553 shares of the medical research company’s stock after buying an additional 26,197 shares during the period. Thermo Fisher Scientific comprises 3.6% of Alphinity Investment Management Pty Ltd’s portfolio, making the stock its 14th largest holding. Alphinity Investment Management Pty Ltd’s holdings in Thermo Fisher Scientific were worth $664,101,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TMO. AMF Tjanstepension AB acquired a new stake in Thermo Fisher Scientific in the third quarter valued at $42,409,000. Howard Capital Management Group LLC raised its holdings in Thermo Fisher Scientific by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock valued at $33,759,000 after acquiring an additional 286 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Thermo Fisher Scientific by 132.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,372 shares of the medical research company’s stock valued at $849,000 after acquiring an additional 781 shares in the last quarter. Valmark Advisers Inc. raised its holdings in Thermo Fisher Scientific by 16.0% in the third quarter. Valmark Advisers Inc. now owns 1,296 shares of the medical research company’s stock valued at $801,000 after acquiring an additional 179 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in Thermo Fisher Scientific by 0.8% in the third quarter. Fidelis Capital Partners LLC now owns 3,171 shares of the medical research company’s stock valued at $1,828,000 after acquiring an additional 25 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $533.00 on Thursday. The firm has a 50-day moving average price of $549.14 and a 200 day moving average price of $566.23. The firm has a market capitalization of $201.08 billion, a PE ratio of 32.24, a P/E/G ratio of 2.99 and a beta of 0.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its 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%. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Sanford C. Bernstein upgraded shares of 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. Scotiabank boosted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Bank of America lowered their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Citigroup boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $656.86.

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.