Parnassus Investments LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Parnassus Investments LLC boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 25.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,410,957 shares of the medical research company’s stock after acquiring an additional 283,087 shares during the quarter. Thermo Fisher Scientific accounts for about 1.6% of Parnassus Investments LLC’s investment portfolio, making the stock its 21st largest holding. Parnassus Investments LLC owned approximately 0.37% of Thermo Fisher Scientific worth $734,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Stonegate Investment Group LLC raised its position in Thermo Fisher Scientific by 0.3% during 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 purchasing an additional 18 shares during the last quarter. Semus Wealth Partners LLC raised its position in Thermo Fisher Scientific by 4.0% during the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 18 shares during the last quarter. Bangor Savings Bank raised its position in Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC raised its position in 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 valued at $3,882,000 after purchasing an additional 19 shares during the last quarter. Finally, Connable Office Inc. raised its position in 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 valued at $3,660,000 after purchasing an additional 20 shares during 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 3,775 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This trade represents a 25.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $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 have sold a total of 23,900 shares of company stock worth $13,106,062 in the last ninety days. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James reissued an “outperform” rating and issued a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a research report on Friday, January 31st. Scotiabank increased their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Bank of America decreased their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Citigroup decreased their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $653.23.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $508.62 on Friday. The business’s fifty day simple moving average is $548.72 and its two-hundred day simple moving average is $560.10. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a market cap of $191.88 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS 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%. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

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