Edgestream Partners L.P. Acquires 5,542 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Edgestream Partners L.P. grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 119.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,186 shares of the medical research company’s stock after buying an additional 5,542 shares during the quarter. Edgestream Partners L.P.’s holdings in Thermo Fisher Scientific were worth $5,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Evergreen Private Wealth LLC boosted its stake in Thermo Fisher Scientific by 0.7% in the 4th quarter. Evergreen Private Wealth LLC now owns 10,581 shares of the medical research company’s stock worth $5,504,000 after purchasing an additional 69 shares during the period. Destination Wealth Management lifted its holdings in shares of Thermo Fisher Scientific by 1.0% in the fourth quarter. Destination Wealth Management now owns 35,725 shares of the medical research company’s stock worth $18,585,000 after buying an additional 361 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Thermo Fisher Scientific by 17.6% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 9,950 shares of the medical research company’s stock valued at $5,180,000 after acquiring an additional 1,492 shares in the last quarter. Callan Family Office LLC increased its holdings in Thermo Fisher Scientific by 179.5% during the 4th quarter. Callan Family Office LLC now owns 14,034 shares of the medical research company’s stock worth $7,301,000 after acquiring an additional 9,012 shares during the period. Finally, Candriam S.C.A. boosted its holdings in Thermo Fisher Scientific by 23.9% in the 4th quarter. Candriam S.C.A. now owns 407,490 shares of the medical research company’s stock valued at $211,989,000 after purchasing an additional 78,512 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at $59,506,950.58. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,125 shares of company stock valued at $11,095,799. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.8 %

NYSE:TMO opened at $531.74 on Friday. The firm has a market capitalization of $200.60 billion, a P/E ratio of 32.17, a P/E/G ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $549.11 and a 200 day moving average of $562.68.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping 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, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TMO shares. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 31st. Citigroup lowered their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a report on Tuesday. Bank of America cut their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. 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 report on Friday, January 10th. Finally, Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.