Kennondale Capital Management LLC Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Kennondale Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,477 shares of the medical research company’s stock, valued at approximately $1,289,000. Thermo Fisher Scientific makes up 1.0% of Kennondale Capital Management LLC’s holdings, making the stock its 25th biggest holding.

Several other large investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after buying an additional 124,996 shares in the last quarter. FMR LLC lifted its holdings in Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after buying an additional 127,564 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. Finally, Amundi raised its position in shares of Thermo Fisher Scientific by 13.5% during the 4th quarter. Amundi now owns 2,860,847 shares of the medical research company’s stock valued at $1,556,689,000 after acquiring an additional 340,263 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup dropped their target price on shares of 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. Scotiabank boosted their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research report on Friday, January 10th. UBS Group boosted their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company boosted their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $653.23.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the transaction, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $13,106,062 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.5 %

Shares of Thermo Fisher Scientific stock opened at $519.30 on Tuesday. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The stock has a market cap of $195.91 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.99 and a beta of 0.79. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $548.20 and its 200-day moving average is $558.14.

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

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

Thermo Fisher Scientific Company 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.