OFI Invest Asset Management Invests $34.42 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

OFI Invest Asset Management acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 68,518 shares of the medical research company’s stock, valued at approximately $34,423,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Stonegate Investment Group LLC grew its position 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 worth $3,531,000 after buying an additional 18 shares in the last quarter. Semus Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares in the last quarter. Bangor Savings Bank lifted its stake in Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after purchasing an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC lifted its stake in 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 worth $3,882,000 after purchasing an additional 19 shares during the last quarter. Finally, Connable Office Inc. lifted its stake in Thermo Fisher Scientific by 0.3% during the third quarter. Connable Office Inc. now owns 5,917 shares of the medical research company’s stock worth $3,660,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 0.8 %

Shares of TMO stock opened at $531.74 on Friday. The business’s fifty day moving average price is $549.11 and its 200 day moving average price is $562.32. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm has a market capitalization of $200.60 billion, a PE ratio of 32.17, a P/E/G ratio of 2.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

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 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%. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is currently 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. This represents a 7.99 % 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, 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 directly owns 27,296 shares in the company, 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. Over the last 90 days, insiders have sold 20,125 shares of company stock valued at $11,095,799. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. 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 note on Friday, December 13th. Citigroup reduced their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. 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. Finally, Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.