Van ECK Associates Corp Purchases 337,008 Shares of Thermo Fisher Scientific Inc. $TMO

Van ECK Associates Corp grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 77.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 770,774 shares of the medical research company’s stock after purchasing an additional 337,008 shares during the period. Van ECK Associates Corp’s holdings in Thermo Fisher Scientific were worth $373,841,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TMO. Vanguard Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after purchasing an additional 309,207 shares during the last quarter. Capital World Investors grew its position in shares of Thermo Fisher Scientific by 7.4% in the 3rd quarter. Capital World Investors now owns 10,285,145 shares of the medical research company’s stock valued at $4,988,132,000 after purchasing an additional 706,572 shares during the period. Norges Bank acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $2,264,615,000. Franklin Resources Inc. grew its holdings in shares of Thermo Fisher Scientific by 11.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after acquiring an additional 498,238 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Thermo Fisher Scientific by 54.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after buying an additional 1,262,967 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the sale, the chief executive officer directly owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was 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 owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.7%

Shares of Thermo Fisher Scientific stock opened at $510.28 on Tuesday. The stock has a market capitalization of $189.56 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96. The stock has a 50 day moving average price of $565.80 and a two-hundred day moving average price of $549.24. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the firm posted $6.10 EPS. Thermo Fisher Scientific’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.47 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.70%.

Wall Street Analyst Weigh In

TMO has been the subject of a number of research reports. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a report on Sunday, December 7th. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 30th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Finally, Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Profile

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.