T. Rowe Price Investment Management Inc. Purchases 1,433,444 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

T. Rowe Price Investment Management Inc. grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 86.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,083,900 shares of the medical research company’s stock after acquiring an additional 1,433,444 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.0% of T. Rowe Price Investment Management Inc.’s holdings, making the stock its 16th biggest holding. T. Rowe Price Investment Management Inc. owned approximately 0.81% of Thermo Fisher Scientific worth $1,604,338,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TMO. Stonegate Investment Group LLC boosted its stake in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after purchasing an additional 18 shares during the period. Semus Wealth Partners LLC boosted its position in Thermo Fisher Scientific by 4.0% during the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock valued at $245,000 after buying an additional 18 shares during the period. Bangor Savings Bank grew its holdings in Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after acquiring an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC raised its stake in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock valued at $3,882,000 after acquiring an additional 19 shares during the last quarter. Finally, KRS Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.5% during the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock worth $685,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at approximately $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 23,900 shares of company stock worth $13,106,062. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Raymond James restated an “outperform” rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. UBS Group boosted their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Barclays lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.67.

Thermo Fisher Scientific Stock Up 2.9 %

Shares of Thermo Fisher Scientific stock opened at $434.17 on Wednesday. The company has a 50-day simple moving average of $493.38 and a two-hundred day simple moving average of $530.71. Thermo Fisher Scientific Inc. has a 52-week low of $409.85 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock has a market capitalization of $163.90 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86.

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a $0.43 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

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.