Sandy Spring Bank Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sandy Spring Bank grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,365 shares of the medical research company’s stock after buying an additional 930 shares during the period. Thermo Fisher Scientific accounts for about 0.8% of Sandy Spring Bank’s holdings, making the stock its 26th largest holding. Sandy Spring Bank’s holdings in Thermo Fisher Scientific were worth $15,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bornite Capital Management LP increased its position in Thermo Fisher Scientific by 50.0% in the 1st quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock valued at $17,719,000 after acquiring an additional 10,000 shares during the period. Fairfield Bush & CO. increased its position in Thermo Fisher Scientific by 1.2% in the 1st quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock valued at $1,729,000 after acquiring an additional 36 shares during the period. Loomis Sayles & Co. L P increased its position in Thermo Fisher Scientific by 563.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock valued at $11,721,000 after acquiring an additional 16,853 shares during the period. Covestor Ltd increased its position in Thermo Fisher Scientific by 60.5% in the 1st quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock valued at $190,000 after acquiring an additional 121 shares during the period. Finally, Merit Financial Group LLC increased its position in Thermo Fisher Scientific by 3.6% in the 1st quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock valued at $395,000 after acquiring an additional 23 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Up 0.1 %

Shares of Thermo Fisher Scientific stock opened at $574.31 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The firm has a market cap of $219.22 billion, a PE ratio of 37.17, a P/E/G ratio of 2.41 and a beta of 0.80. The business’s fifty day moving average is $571.39 and its two-hundred day moving average is $525.37. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.64 by $0.03. The company had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.40 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TMO shares. Robert W. Baird reiterated an “outperform” rating and set a $670.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, December 14th. Citigroup initiated coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target on the stock. Evercore ISI upped their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. TheStreet upgraded Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a report on Friday, December 22nd. Finally, Barclays lowered Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $475.00 to $555.00 in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $601.56.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The disclosure for this sale can be found here. Insiders sold a total of 50,277 shares of company stock worth $28,513,384 in the last ninety days. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Profile

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.