Jennison Associates LLC Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Jennison Associates LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,485 shares of the medical research company’s stock after buying an additional 564 shares during the period. Jennison Associates LLC’s holdings in Thermo Fisher Scientific were worth $44,313,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TMO. Sugarloaf Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 6.9% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 294 shares of the medical research company’s stock valued at $156,000 after acquiring an additional 19 shares during the period. Rosenberg Matthew Hamilton increased its stake in shares of Thermo Fisher Scientific by 3.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 526 shares of the medical research company’s stock worth $279,000 after purchasing an additional 19 shares in the last quarter. Tsfg LLC grew its stake in Thermo Fisher Scientific by 8.3% during the 4th quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 19 shares in the last quarter. Pacifica Partners Inc. grew its stake in Thermo Fisher Scientific by 16.5% during the 4th quarter. Pacifica Partners Inc. now owns 141 shares of the medical research company’s stock valued at $69,000 after acquiring an additional 20 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its holdings in Thermo Fisher Scientific by 4.9% during the 4th quarter. Retirement Planning Group LLC now owns 446 shares of the medical research company’s stock worth $237,000 after buying an additional 21 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 of the company’s stock, valued at $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 12,901 shares in the company, valued at approximately $7,250,362. 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 three months. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Barclays downgraded shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $475.00 to $555.00 in a research report on Wednesday, January 24th. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price for the company. Evercore ISI raised their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Raymond James raised their price objective on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $604.69.

Thermo Fisher Scientific Price Performance

TMO stock opened at $575.10 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82. The firm has a market capitalization of $219.52 billion, a PE ratio of 37.22, a P/E/G ratio of 2.31 and a beta of 0.80. The firm has a 50-day moving average of $572.03 and a two-hundred day moving average of $528.72.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $5.40 earnings per share. The business’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.51 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

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

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.