Waterfront Wealth Inc. Has $1.53 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Waterfront Wealth Inc. increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 53.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,947 shares of the medical research company’s stock after purchasing an additional 1,031 shares during the quarter. Waterfront Wealth Inc.’s holdings in Thermo Fisher Scientific were worth $1,533,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TMO. International Assets Investment Management LLC boosted its stake in Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after acquiring an additional 1,414,556 shares during the last quarter. FMR LLC boosted its stake in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Thermo Fisher Scientific in the third quarter valued at approximately $254,412,000. Lindsell Train Ltd acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth $211,858,000. Finally, Franklin Resources Inc. raised its holdings in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock valued at $11,231,699 over the last three months. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $538.03 on Friday. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The firm has a 50-day moving average of $548.36 and a 200-day moving average of $568.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The company has a market cap of $205.80 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.95 and a beta of 0.77.

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

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.44%.

Analyst Ratings Changes

TMO has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Bank of America decreased their price objective on shares of 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. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $658.00.

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.