Bowen Hanes & Co. Inc. Has $66.62 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bowen Hanes & Co. Inc. lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,066 shares of the medical research company’s stock after purchasing an additional 10,250 shares during the period. Thermo Fisher Scientific accounts for 1.8% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 22nd biggest position. Bowen Hanes & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $66,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. Stonegate Investment Group LLC grew its position in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after acquiring an additional 18 shares during the period. Semus Wealth Partners LLC grew its holdings in Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after purchasing an additional 18 shares during the period. Bangor Savings Bank raised its stake in Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares during the period. Eagle Rock Investment Company LLC boosted its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after acquiring an additional 19 shares during the period. Finally, Connable Office Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.3% during the 3rd quarter. Connable Office Inc. now owns 5,917 shares of the medical research company’s stock worth $3,660,000 after acquiring an additional 20 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. This trade represents a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Down 0.2 %

NYSE TMO opened at $512.94 on Thursday. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The business has a fifty day moving average price of $549.00 and a two-hundred day moving average price of $560.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market capitalization of $193.51 billion, a PE ratio of 31.03, a PEG ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.43 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.34%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

Analysts Set New Price Targets

A number of research firms have commented on TMO. Wells Fargo & Company lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a report on Friday, January 31st. Morgan Stanley lifted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $653.23.

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.