Kane Investment Management Inc. Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Kane Investment Management Inc. purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,436 shares of the medical research company’s stock, valued at approximately $747,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TMO. Nordea Investment Management AB raised its position in Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after purchasing an additional 10,606 shares in the last quarter. S.E.E.D. Planning Group LLC grew its stake in shares of Thermo Fisher Scientific by 6.2% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after purchasing an additional 618 shares during the period. Czech National Bank lifted its position in shares of Thermo Fisher Scientific by 6.6% during the 4th quarter. Czech National Bank now owns 82,934 shares of the medical research company’s stock worth $43,145,000 after buying an additional 5,118 shares during the period. Douglas Lane & Associates LLC boosted its stake in Thermo Fisher Scientific by 1.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 182,511 shares of the medical research company’s stock valued at $94,948,000 after buying an additional 3,460 shares in the last quarter. Finally, M&T Bank Corp grew its position in Thermo Fisher Scientific by 4.2% in the third quarter. M&T Bank Corp now owns 113,347 shares of the medical research company’s stock valued at $70,113,000 after acquiring an additional 4,584 shares during the period. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a research note on Friday, January 10th. Scotiabank boosted their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. UBS Group lifted their price objective on 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, Wells Fargo & Company increased their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $647.43.

Insider Activity

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the business’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 $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’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 sale, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. This represents a 1.80 % 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.

Thermo Fisher Scientific Stock Up 2.4 %

NYSE:TMO opened at $448.60 on Tuesday. 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 12-month low of $409.85 and a 12-month high of $627.88. The stock’s fifty day simple moving average is $507.90 and its 200-day simple moving average is $537.62. The firm has a market capitalization of $169.24 billion, a P/E ratio of 27.14, a P/E/G ratio of 2.99 and a beta of 0.86.

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

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 0.38%. 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%.

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.