KLP Kapitalforvaltning AS Takes $70.42 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

KLP Kapitalforvaltning AS acquired a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 135,283 shares of the medical research company’s stock, valued at approximately $70,423,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Umpqua Bank increased its position in shares of Thermo Fisher Scientific by 5.4% in the 4th quarter. Umpqua Bank now owns 4,895 shares of the medical research company’s stock valued at $2,726,000 after acquiring an additional 250 shares during the period. Geo Capital Gestora de Recursos Ltd increased its position in shares of Thermo Fisher Scientific by 6,455.6% in the 4th quarter. Geo Capital Gestora de Recursos Ltd now owns 4,130 shares of the medical research company’s stock valued at $2,149,000 after acquiring an additional 4,067 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $78,000. Mizuho Securities USA LLC increased its position in shares of Thermo Fisher Scientific by 46.4% in the 4th quarter. Mizuho Securities USA LLC now owns 36,252 shares of the medical research company’s stock valued at $18,859,000 after acquiring an additional 11,482 shares during the period. Finally, Virtu Financial LLC increased its position in shares of Thermo Fisher Scientific by 1,058.4% in the 4th quarter. Virtu Financial LLC now owns 11,955 shares of the medical research company’s stock valued at $6,219,000 after acquiring an additional 10,923 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.1 %

Shares of NYSE TMO opened at $518.04 on Friday. The firm has a market cap 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 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. The business’s 50 day moving average is $546.15 and its two-hundred day moving average is $556.26.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS 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 issued a dividend of $0.43 per share. This is an increase 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 annualized dividend and a yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

Insider Activity

In other news, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This represents a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. This represents a 7.99 % 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. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research report on Friday, January 10th. Scotiabank increased their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Finally, Bank of America lowered their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $653.23.

Thermo Fisher Scientific 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.