Steele Capital Management Inc. Invests $459,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Steele Capital Management Inc. acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 865 shares of the medical research company’s stock, valued at approximately $459,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC raised its holdings in shares of Thermo Fisher Scientific by 8.8% during the third quarter. Linden Thomas Advisory Services LLC now owns 1,546 shares of the medical research company’s stock valued at $783,000 after purchasing an additional 125 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Thermo Fisher Scientific by 17.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241 shares of the medical research company’s stock worth $628,000 after buying an additional 187 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Thermo Fisher Scientific by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 99,703 shares of the medical research company’s stock worth $50,467,000 after acquiring an additional 835 shares during the period. FAS Wealth Partners Inc. lifted its holdings in Thermo Fisher Scientific by 7.8% in the third quarter. FAS Wealth Partners Inc. now owns 748 shares of the medical research company’s stock valued at $378,000 after acquiring an additional 54 shares during the period. Finally, RMR Wealth Builders purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $722,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TMO shares. Barclays boosted their target price on Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Raymond James increased their price objective on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Royal Bank of Canada lifted their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $606.76.

Insiders Place Their Bets

In other news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Marc N. Casper sold 5,547 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $550.62, for a total value of $3,054,289.14. Following the completion of the sale, the chief executive officer now owns 43,608 shares of the company’s stock, valued at $24,011,436.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now directly owns 1,207 shares of the company’s stock, valued at $660,192.79. The disclosure for this sale can be found here. Insiders sold 52,277 shares of company stock worth $29,649,264 over the last three months. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $3.63 during trading hours on Tuesday, hitting $573.26. 235,766 shares of the company were exchanged, compared to its average volume of 1,538,450. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $574.18 and a 200-day moving average of $531.06. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $603.82. The stock has a market capitalization of $218.82 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 2.41 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The firm had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.56 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

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.