Assetmark Inc. Raises Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Assetmark Inc. raised its position in Thermo Fisher Scientific by 22.9% in Q4 to 37,654 shares worth $21.82M, and institutional investors now own about 89.23% of the stock.
• Analysts hold a consensus rating of Moderate Buy with a consensus target price of $631.25 (coverage includes mostly Buy ratings and a recent range of targets ~ $583–$700).
• Thermo Fisher topped quarterly expectations with $6.57 EPS (vs. $6.45) and $12.22B revenue (+7.2% YoY), and raised its quarterly dividend to $0.47 (annualized $1.88, 0.4% yield).

Assetmark Inc. grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 22.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,654 shares of the medical research company's stock after buying an additional 7,023 shares during the period. Assetmark Inc.'s holdings in Thermo Fisher Scientific were worth $21,819,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Capital World Investors raised its holdings in Thermo Fisher Scientific by 7.4% in the third quarter. Capital World Investors now owns 10,285,145 shares of the medical research company's stock worth $4,988,132,000 after buying an additional 706,572 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Thermo Fisher Scientific by 21.0% during the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock valued at $2,874,069,000 after purchasing an additional 1,028,125 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Thermo Fisher Scientific by 54.7% during the third 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 purchasing an additional 1,262,967 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Thermo Fisher Scientific by 5.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,087,666 shares of the medical research company's stock valued at $1,789,148,000 after purchasing an additional 150,668 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Thermo Fisher Scientific by 1.2% during the third quarter. Fisher Asset Management LLC now owns 2,721,101 shares of the medical research company's stock valued at $1,319,789,000 after purchasing an additional 31,298 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DZ Bank assumed coverage on shares of Thermo Fisher Scientific in a report on Friday, March 27th. They set a "buy" rating and a $610.00 price objective for the company. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $650.00 to $625.00 and set an "overweight" rating for the company in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a "buy" rating in a report on Friday, January 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Thermo Fisher Scientific in a report on Wednesday, April 8th. Finally, TD Cowen cut their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating for the company in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus target price of $631.25.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares of the company's stock, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer directly owned 123,925 shares of the company's stock, valued at $63,499,170. This represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Trading Up 0.8%

Shares of TMO opened at $531.69 on Thursday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a market cap of $197.59 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.82 and a beta of 0.97. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The company's fifty day simple moving average is $502.46 and its 200-day simple moving average is $550.12.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its 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. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $6.10 EPS. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, March 13th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, March 13th. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.43. Thermo Fisher Scientific's payout ratio is presently 10.60%.

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.

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