SlateStone Wealth LLC Has $3.47 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

SlateStone Wealth LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,672 shares of the medical research company’s stock after acquiring an additional 524 shares during the quarter. SlateStone Wealth LLC’s holdings in Thermo Fisher Scientific were worth $3,471,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp boosted its position in 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 purchasing an additional 124,996 shares during the last quarter. FMR LLC lifted its holdings in Thermo Fisher Scientific by 19.7% during 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 1.7% during 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 last quarter. Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the period. Finally, Amundi increased its stake in Thermo Fisher Scientific by 13.5% during the 4th quarter. Amundi now owns 2,860,847 shares of the medical research company’s stock worth $1,556,689,000 after acquiring an additional 340,263 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Up 2.9 %

Shares of TMO opened at $523.44 on Friday. The stock has a fifty day simple moving average of $548.54 and a two-hundred day simple moving average of $559.17. 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 market capitalization of $197.47 billion, a PE ratio of 31.67, a price-to-earnings-growth 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.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.33%. 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 payout ratio is presently 10.41%.

Insiders Place Their Bets

In other news, SVP Michael A. Boxer sold 3,775 shares of the company’s 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 sale, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TMO. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a report on Friday, January 31st. Scotiabank boosted their price objective on 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. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Bank of America decreased their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $653.23.

About Thermo Fisher Scientific

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.