Everence Capital Management Inc. Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Everence Capital Management Inc. increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 37.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,459 shares of the medical research company’s stock after purchasing an additional 5,040 shares during the period. Thermo Fisher Scientific makes up approximately 0.7% of Everence Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Everence Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $9,798,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Coppell Advisory Solutions LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at approximately $33,000. Live Oak Investment Partners acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $36,000. Tyler Stone Wealth Management acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at $37,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $38,000. Finally, Raleigh Capital Management Inc. raised its holdings 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 purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.5 %

TMO stock traded down $2.99 on Tuesday, hitting $554.88. 665,834 shares of the company were exchanged, compared to its average volume of 1,533,968. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $603.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 1.39. The business’s fifty day moving average is $571.79 and its two-hundred day moving average is $526.53. The stock has a market capitalization of $211.80 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 2.38 and a beta of 0.80.

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

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is presently 10.10%.

Insider Transactions at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were 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 of the company’s stock, valued at approximately $7,250,362. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now directly owns 1,207 shares of the company’s stock, valued at $660,192.79. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock valued at $28,513,384 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on TMO shares. Citigroup started coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price target on the stock. Barclays downgraded shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Royal Bank of Canada boosted their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Evercore ISI boosted their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Raymond James boosted their price objective on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $601.56.

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.