NorthRock Partners LLC Acquires 1,093 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

NorthRock Partners LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,458 shares of the medical research company’s stock after buying an additional 1,093 shares during the period. NorthRock Partners LLC’s holdings in Thermo Fisher Scientific were worth $2,319,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TMO. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $3,149,754,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock valued at $1,604,338,000 after acquiring an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock worth $469,889,000 after purchasing an additional 858,193 shares during the period. Proficio Capital Partners LLC lifted its position in Thermo Fisher Scientific by 68,617.0% during the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock worth $396,810,000 after purchasing an additional 761,649 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $377,901,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $428.88 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $401.75 and a fifty-two week high of $627.88. The company’s 50-day moving average is $460.85 and its 200 day moving average is $513.11. 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 company has a market capitalization of $161.90 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same quarter last year, the business posted $5.11 EPS. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific’s dividend payout ratio is 10.09%.

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Scotiabank reduced their price objective on Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada dropped their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. StockNews.com cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Argus cut their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Finally, Stifel Nicolaus lowered their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $607.43.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction dated 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 trade represents a 25.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,075 shares of company stock worth $7,305,942 over the last quarter. 0.33% of the stock is currently owned by company insiders.

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.