Accent Capital Management LLC Invests $836,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Accent Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,575 shares of the medical research company’s stock, valued at approximately $836,000. Thermo Fisher Scientific makes up 0.7% of Accent Capital Management LLC’s holdings, making the stock its 27th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in TMO. Kestra Advisory Services LLC raised its position in Thermo Fisher Scientific by 15.7% in the third quarter. Kestra Advisory Services LLC now owns 27,014 shares of the medical research company’s stock valued at $13,674,000 after purchasing an additional 3,666 shares during the period. Rafferty Asset Management LLC raised its position in Thermo Fisher Scientific by 7.9% in the third quarter. Rafferty Asset Management LLC now owns 40,269 shares of the medical research company’s stock valued at $20,383,000 after purchasing an additional 2,944 shares during the period. QRG Capital Management Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter valued at $12,894,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter valued at $18,442,000. Finally, Envestnet Asset Management Inc. raised its position in Thermo Fisher Scientific by 21.9% in the third quarter. Envestnet Asset Management Inc. now owns 698,445 shares of the medical research company’s stock valued at $353,532,000 after purchasing an additional 125,267 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.7 %

Shares of NYSE:TMO traded down $4.05 on Monday, hitting $568.00. 1,278,122 shares of the company’s stock were exchanged, compared to its average volume of 1,486,867. The firm’s 50-day moving average is $574.95 and its 200 day moving average is $559.33. The company has a market capitalization of $216.82 billion, a PE ratio of 36.43, a P/E/G ratio of 2.67 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $603.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TMO shares. Citigroup began coverage on Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Evercore ISI boosted their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $607.94.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. In the last three months, insiders sold 22,000 shares of company stock valued at $12,532,780. Insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.