Everence Capital Management Inc. Acquires 5,040 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Everence Capital Management Inc. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 37.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,459 shares of the medical research company’s stock after acquiring an additional 5,040 shares during the period. Thermo Fisher Scientific comprises 0.7% of Everence Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. Everence Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $9,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Coppell Advisory Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. Live Oak Investment Partners bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $36,000. Tyler Stone Wealth Management acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $37,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $38,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 49.1% in the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after acquiring an additional 27 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $2.99 during trading on Tuesday, reaching $554.88. The company’s stock had a trading volume of 665,834 shares, compared to its average volume of 1,533,968. The firm has a market cap 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. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. The firm has a 50 day moving average of $571.79 and a 200-day moving average of $526.53. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82.

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

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is currently 10.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lowered Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $475.00 to $555.00 in a research note on Wednesday, January 24th. Raymond James boosted their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. HSBC assumed coverage on Thermo Fisher Scientific in a research note on Monday, December 18th. They issued a “buy” rating and a $610.00 price target on the stock. Citigroup assumed coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target on the stock. Finally, TheStreet upgraded Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a report on Friday, December 22nd. Five analysts have rated the stock with a hold rating and twelve 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 target price of $601.56.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 5,547 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $550.62, for a total value of $3,054,289.14. Following the transaction, the chief executive officer now directly owns 43,608 shares in the company, valued at $24,011,436.96. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock valued at $28,513,384 in the last 90 days. Insiders own 0.32% of the company’s stock.

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.