Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Lifted by Renaissance Investment Group LLC

Renaissance Investment Group LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,978 shares of the medical research company’s stock after purchasing an additional 19 shares during the quarter. Thermo Fisher Scientific comprises about 4.6% of Renaissance Investment Group LLC’s investment portfolio, making the stock its biggest position. Renaissance Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $15,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Thermo Fisher Scientific by 1.3% in the third quarter. Vanguard Group Inc. now owns 32,166,910 shares of the medical research company’s stock valued at $16,314,735,000 after purchasing an additional 406,844 shares during the period. BlackRock Inc. grew its stake in shares of Thermo Fisher Scientific by 0.8% during the third quarter. BlackRock Inc. now owns 30,689,762 shares of the medical research company’s stock valued at $15,565,540,000 after acquiring an additional 256,512 shares in the last quarter. State Street Corp grew its stake in shares of Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,158,876 shares of the medical research company’s stock valued at $8,200,398,000 after acquiring an additional 135,437 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Thermo Fisher Scientific by 7.5% during the third quarter. Brown Advisory Inc. now owns 2,199,500 shares of the medical research company’s stock valued at $1,115,564,000 after acquiring an additional 153,451 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Thermo Fisher Scientific by 9.3% during the second quarter. UBS Asset Management Americas Inc. now owns 2,127,006 shares of the medical research company’s stock valued at $1,155,560,000 after acquiring an additional 181,476 shares in the last quarter. 85.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Marc N. Casper sold 20,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $569.18, for a total transaction of $11,383,600.00. Following the sale, the chief executive officer now owns 128,705 shares of the company’s stock, valued at $73,256,311.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Marc N. Casper sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $544.49, for a total transaction of $4,083,675.00. Following the sale, the chief executive officer now owns 66,655 shares of the company’s stock, valued at $36,292,980.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $569.18, for a total value of $11,383,600.00. Following the sale, the chief executive officer now directly owns 128,705 shares in the company, valued at approximately $73,256,311.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,100 shares of company stock valued at $16,966,971. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup raised their target price on Thermo Fisher Scientific from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, December 13th. They issued a “buy” rating and a $620.00 price target for the company. Barclays lifted their price target on Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Robert W. Baird decreased their price target on Thermo Fisher Scientific from $710.00 to $693.00 in a research note on Thursday, February 2nd. Finally, StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $647.00.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $547.34 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $565.91 and a two-hundred day moving average of $544.99. Thermo Fisher Scientific Inc. has a 52 week low of $475.77 and a 52 week high of $618.35. The company has a market cap of $210.96 billion, a P/E ratio of 31.05, a PEG ratio of 1.88 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last issued its earnings results on Wednesday, February 1st. The medical research company reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.21. The company had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $10.41 billion. Thermo Fisher Scientific had a return on equity of 21.42% and a net margin of 15.47%. Thermo Fisher Scientific’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.54 earnings per share. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.72 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Tuesday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.30. Thermo Fisher Scientific’s payout ratio is 7.94%.

Thermo Fisher Scientific Profile

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.