Arrowpoint Investment Partners Singapore Pte. Ltd. Purchases New Shares in Thermo Fisher Scientific Inc. $TMO

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,512 shares of the medical research company’s stock, valued at approximately $733,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after buying an additional 988 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares in the last quarter. Clearstead Trust LLC grew its holdings in shares of Thermo Fisher Scientific by 185.6% during the 2nd quarter. Clearstead Trust LLC now owns 5,543 shares of the medical research company’s stock valued at $2,247,000 after purchasing an additional 3,602 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Thermo Fisher Scientific by 21.3% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 32,288 shares of the medical research company’s stock worth $13,090,000 after purchasing an additional 5,664 shares in the last quarter. Finally, Arcadia Investment Management Corp MI boosted its position in Thermo Fisher Scientific by 3.7% in the second quarter. Arcadia Investment Management Corp MI now owns 32,202 shares of the medical research company’s stock valued at $13,057,000 after buying an additional 1,136 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

TMO has been the subject of several research analyst reports. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Evercore restated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Barclays increased their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. TD Cowen lowered their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, Robert W. Baird set a $653.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business’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 transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Down 2.5%

Shares of TMO opened at $463.99 on Friday. The business’s 50-day moving average price is $557.83 and its 200-day moving average price is $548.17. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The stock has a market cap of $172.36 billion, a PE ratio of 26.15, a P/E/G ratio of 2.75 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion for 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.10 EPS. On average, equities analysts forecast 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. Investors of record on Friday, March 13th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is 9.70%.

Thermo Fisher Scientific 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.