Confluence Investment Management LLC Acquires 11,841 Shares of Thermo Fisher Scientific Inc. $TMO

Confluence Investment Management LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,064 shares of the medical research company’s stock after buying an additional 11,841 shares during the quarter. Confluence Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $55,085,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $28,000. Highline Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares during the period. Capital A Wealth Management LLC lifted its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Thermo Fisher Scientific during the third quarter valued at about $31,000. Finally, Howard Hughes Medical Institute purchased a new stake in Thermo Fisher Scientific in the second quarter worth about $33,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $469.93 on Friday. The company has a market cap of $174.57 billion, a P/E ratio of 26.49, a P/E/G ratio of 2.68 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The firm’s fifty day moving average is $546.31 and its two-hundred day moving average is $547.61.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.10 earnings per share. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is presently 10.60%.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. UBS Group reiterated a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, TD Cowen lowered their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.