Patrick M Sweeney & Associates Inc. Acquires New Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Patrick M Sweeney & Associates Inc. purchased a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,035 shares of the medical research company’s stock, valued at approximately $549,000.

A number of other hedge funds also recently modified their holdings of TMO. Raleigh Capital Management Inc. grew its position in shares of Thermo Fisher Scientific by 49.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after buying an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in Thermo Fisher Scientific by 107.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 89 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 46 shares during the last quarter. Operose Advisors LLC raised its holdings in Thermo Fisher Scientific by 250.0% during the 3rd quarter. Operose Advisors LLC now owns 105 shares of the medical research company’s stock worth $53,000 after purchasing an additional 75 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $53,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Thermo Fisher Scientific by 40.5% in the 3rd quarter. Valley National Advisers Inc. now owns 111 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $0.77 during midday trading on Wednesday, reaching $573.64. 1,585,506 shares of the company’s stock traded hands, compared to its average volume of 1,549,288. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82. The company has a 50-day moving average price of $575.72 and a two-hundred day moving average price of $535.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The firm has a market capitalization of $218.97 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.64 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.39 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TMO shares. Barclays boosted their target price on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. HSBC lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird decreased their target price on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Evercore ISI increased 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. Finally, Citigroup started coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $607.35.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,430,359.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now directly owns 1,207 shares of the company’s stock, valued at $660,192.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. Insiders have sold 37,711 shares of company stock worth $21,630,972 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.