Fred Alger Management LLC Has $7.34 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Fred Alger Management LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 118.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,462 shares of the medical research company’s stock after acquiring an additional 7,846 shares during the quarter. Fred Alger Management LLC’s holdings in Thermo Fisher Scientific were worth $7,335,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at approximately $26,000. Lowe Wealth Advisors LLC lifted its position in shares of Thermo Fisher Scientific by 160.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 52 shares of the medical research company’s stock worth $26,000 after acquiring an additional 32 shares during the period. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Toth Financial Advisory Corp lifted its position in shares of Thermo Fisher Scientific by 7,300.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 74 shares of the medical research company’s stock worth $38,000 after acquiring an additional 73 shares during the period. Finally, Pacifica Partners Inc. lifted its position in shares of Thermo Fisher Scientific by 55.8% during the 3rd quarter. Pacifica Partners Inc. now owns 81 shares of the medical research company’s stock worth $42,000 after buying an additional 29 shares during the period. 85.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jim P. Manzi sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $584.56, for a total transaction of $584,560.00. Following the completion of the sale, the director now owns 14,807 shares in the company, valued at approximately $8,655,579.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jim P. Manzi sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $584.56, for a total transaction of $584,560.00. Following the completion of the sale, the director now owns 14,807 shares in the company, valued at approximately $8,655,579.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Debora L. Spar sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $561.39, for a total transaction of $112,278.00. Following the sale, the director now owns 979 shares of the company’s stock, valued at approximately $549,600.81. The disclosure for this sale can be found here. Insiders have sold a total of 22,800 shares of company stock valued at $12,995,574 in the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TMO. StockNews.com cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Friday, March 10th. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $525.00 to $505.00 and set an “underweight” rating for the company in a research note on Tuesday, January 3rd. SVB Leerink lifted their target price on Thermo Fisher Scientific from $620.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Barclays raised their price target on Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Thermo Fisher Scientific in a research report on Tuesday, December 13th. They issued a “buy” rating and a $620.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $647.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $555.96 on Wednesday. The company has a market capitalization of $214.28 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 1.83 and a beta of 0.79. Thermo Fisher Scientific Inc. has a twelve month low of $475.77 and a twelve month high of $618.35. The stock has a fifty day simple moving average of $566.05 and a 200 day simple moving average of $545.05. The company has a quick ratio of 1.15, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The medical research company reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.21. The firm had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $10.41 billion. Thermo Fisher Scientific had a return on equity of 21.42% and a net margin of 15.47%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $6.54 EPS. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.72 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.25%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.30. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 6.81%.

Thermo Fisher Scientific Profile

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.