Bonness Enterprises Inc. Has $5.14 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

Bonness Enterprises Inc. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,875 shares of the medical research company’s stock after selling 2,060 shares during the period. Thermo Fisher Scientific comprises approximately 1.8% of Bonness Enterprises Inc.’s investment portfolio, making the stock its 13th largest holding. Bonness Enterprises Inc.’s holdings in Thermo Fisher Scientific were worth $5,143,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Petros Family Wealth LLC increased its position in Thermo Fisher Scientific by 3.9% during the 4th quarter. Petros Family Wealth LLC now owns 456 shares of the medical research company’s stock worth $264,000 after buying an additional 17 shares during the period. Financial Management Network Inc. grew its stake in shares of Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 18 shares in the last quarter. Pallas Capital Advisors LLC increased its position in Thermo Fisher Scientific by 1.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,256 shares of the medical research company’s stock worth $728,000 after acquiring an additional 18 shares during the period. Bruce G. Allen Investments LLC raised its stake in Thermo Fisher Scientific by 8.8% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after purchasing an additional 19 shares in the last quarter. Finally, White Pine Capital LLC boosted its holdings in Thermo Fisher Scientific by 3.2% in the 3rd quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 19 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Barclays raised their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $632.50.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $473.83 on Friday. The company’s 50 day simple moving average is $530.10 and its 200 day simple moving average is $547.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The stock has a market capitalization of $176.02 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 2.73 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same quarter last year, the company posted $6.10 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is 10.60%.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.