Kennondale Capital Management LLC Invests $1.29 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Kennondale Capital Management LLC bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,477 shares of the medical research company’s stock, valued at approximately $1,289,000. Thermo Fisher Scientific makes up about 1.0% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 25th biggest position.

Several other large investors also recently modified their holdings of the stock. State Street Corp boosted its stake in Thermo Fisher Scientific by 0.8% in the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after buying an additional 124,996 shares in the last quarter. FMR LLC boosted its stake in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC boosted its stake in Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares in the last quarter. Franklin Resources Inc. boosted its stake in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after buying an additional 262,062 shares in the last quarter. Finally, Amundi boosted its stake in Thermo Fisher Scientific by 13.5% in the fourth quarter. Amundi now owns 2,860,847 shares of the medical research company’s stock valued at $1,556,689,000 after buying an additional 340,263 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TMO shares. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Bank of America cut their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Scotiabank lifted their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $653.23.

Thermo Fisher Scientific Trading Down 0.5 %

Shares of TMO stock opened at $519.30 on Tuesday. The company has a market cap of $195.91 billion, a P/E ratio of 31.42, a PEG ratio of 2.99 and a beta of 0.79. The stock has a 50 day simple moving average of $548.20 and a two-hundred day simple moving average of $558.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 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 Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,900 shares of company stock valued at $13,106,062. Company 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.