Baillie Gifford & Co. Sells 29,480 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Baillie Gifford & Co. reduced its stake in Thermo Fisher Scientific by 5.5%, selling 29,480 shares, and now owns 509,377 shares worth approximately $253 million.
• Thermo Fisher Scientific reported a quarterly revenue of $10.86 billion, exceeding analysts' expectations, along with an earnings per share of $5.36.
• The company declared a quarterly dividend of $0.43 per share, with an ex-dividend date set for September 15th, representing an annualized dividend yield of 0.36%.

Baillie Gifford & Co. lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 509,377 shares of the medical research company's stock after selling 29,480 shares during the period. Baillie Gifford & Co. owned 0.13% of Thermo Fisher Scientific worth $253,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $25,000. Ameriflex Group Inc. bought a new position in Thermo Fisher Scientific during the 4th quarter worth $30,000. IMA Advisory Services Inc. bought a new position in Thermo Fisher Scientific during the 1st quarter worth $35,000. Navigoe LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Thermo Fisher Scientific during the 1st quarter worth $37,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $475.16 on Friday. The stock has a market cap of $179.37 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 2.25 and a beta of 0.77. The company has a current ratio of 1.93, a quick ratio of 1.38 and a debt-to-equity ratio of 0.65. The stock's 50-day moving average is $412.43 and its 200-day moving average is $470.68. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.14. The company had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $5.37 earnings per share. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.09%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TMO. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Wells Fargo & Company dropped their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. UBS Group boosted their price target on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target for the company in a research note on Friday, July 11th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $593.00.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president directly owned 23,167 shares of the company's stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company's stock.

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.

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