Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Increased by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,066 shares of the medical research company’s stock after acquiring an additional 10,250 shares during the period. Thermo Fisher Scientific accounts for 1.8% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 22nd biggest holding. Bowen Hanes & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $66,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TMO. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific in the third quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth $27,000. Barrett & Company Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth about $28,000. FPC Investment Advisory Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. Finally, Missouri Trust & Investment Co bought a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the 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 completion of the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen Williamson sold 9,825 shares of the company’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 $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $13,106,062 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TMO shares. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research report on Friday, January 10th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Scotiabank upped 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. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $653.23.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $512.94 on Thursday. The company’s 50-day moving average is $549.00 and its two-hundred day moving average is $560.46. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market cap of $193.51 billion, a PE ratio of 31.03, a PEG ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 0.34%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

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.