Empire Life Investments Inc. raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,778 shares of the medical research company’s stock after buying an additional 1,989 shares during the quarter. Empire Life Investments Inc.’s holdings in Thermo Fisher Scientific were worth $15,718,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TMO. Icon Wealth Partners LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $105,000. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $106,000. Keeler Thomas Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $106,000. Virtue Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $127,000. Finally, Premia Global Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $131,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.
TMO has been the topic of a number of research reports. Zacks Investment Research upgraded Thermo Fisher Scientific from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Leerink Swann reiterated an “outperform” rating and set a $200.00 price target (down from $216.00) on shares of Thermo Fisher Scientific in a research report on Monday, December 4th. Evercore ISI initiated coverage on Thermo Fisher Scientific in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $220.00 price target on the stock. Bank of America increased their price target on Thermo Fisher Scientific from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, BTIG Research initiated coverage on Thermo Fisher Scientific in a research report on Friday, January 5th. They set a “buy” rating and a $230.00 price target on the stock. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $220.50.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, January 31st. The medical research company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.66 by $0.13. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Thermo Fisher Scientific had a return on equity of 16.01% and a net margin of 10.64%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $2.41 EPS. equities analysts anticipate that Thermo Fisher Scientific Inc. will post 10.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.17 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Wednesday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.71%.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $191.74, for a total transaction of $9,587,000.00. Following the completion of the transaction, the chief executive officer now directly owns 302,577 shares of the company’s stock, valued at approximately $58,016,113.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $204.60, for a total value of $511,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,827 shares of company stock valued at $20,193,272. 0.49% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY NOTICE: “Empire Life Investments Inc. Increases Holdings in Thermo Fisher Scientific Inc. (TMO)” was originally published by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2018/03/12/empire-life-investments-inc-increases-holdings-in-thermo-fisher-scientific-inc-tmo.html.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.