OVERSEA CHINESE BANKING Corp Ltd Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 48.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,908 shares of the medical research company’s stock after buying an additional 2,576 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Thermo Fisher Scientific were worth $4,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. 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 worth $3,531,000 after buying an additional 18 shares during the last quarter. Semus Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.0% in the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares during the last quarter. Bangor Savings Bank grew its position in shares of Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after buying an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC grew its position in shares of Thermo Fisher Scientific by 0.3% in 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 buying an additional 19 shares during the last quarter. Finally, KRS Capital Management LLC boosted its stake in Thermo Fisher Scientific by 1.5% in the 4th quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock worth $685,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the sale, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 over the last 90 days. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

TMO has been the subject of a number of recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Finally, Citigroup decreased their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $653.23.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $518.21 on Thursday. The firm has a market cap of $195.50 billion, a PE ratio of 31.35, a PEG ratio of 2.99 and a beta of 0.79. The firm has a fifty day moving average of $547.18 and a 200 day moving average of $557.21. 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 one year low of $493.30 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business 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 represents a $1.72 dividend on an annualized basis and a yield of 0.33%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

Thermo Fisher Scientific Profile

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.