Exencial Wealth Advisors LLC Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Exencial Wealth Advisors LLC increased its stake in Thermo Fisher Scientific by 62.4% in the first quarter, acquiring an additional 11,723 shares, bringing its total holdings to 30,520 shares valued at $15,187,000.
• Multiple institutional investors have also expanded their holdings, with GAMMA Investing LLC raising its position by an astonishing 60,610.9% to own over 2.4 million shares valued at approximately $1.2 billion.
• Thermo Fisher Scientific reported earnings per share of $5.36 for the last quarter, exceeding estimates and demonstrating a 2.9% increase in revenue year-over-year.

Exencial Wealth Advisors LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 62.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,520 shares of the medical research company's stock after buying an additional 11,723 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Thermo Fisher Scientific were worth $15,187,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Thermo Fisher Scientific by 0.7% in the first quarter. Vanguard Group Inc. now owns 33,479,957 shares of the medical research company's stock valued at $16,659,627,000 after purchasing an additional 230,382 shares in the last quarter. Capital World Investors boosted its holdings in shares of Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after buying an additional 104,343 shares in the last quarter. Northern Trust Corp grew its position in shares of Thermo Fisher Scientific by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after buying an additional 455,004 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Thermo Fisher Scientific by 7.2% in the first quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock valued at $1,432,816,000 after acquiring an additional 193,378 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock traded up $6.60 during trading hours on Friday, reaching $461.34. 1,689,914 shares of the company's stock were exchanged, compared to its average volume of 3,227,669. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. The company's 50 day moving average is $425.62 and its two-hundred day moving average is $464.94. The company has a market cap of $174.21 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.74. 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 data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.14. The firm had revenue of $10.86 billion during 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%. Thermo Fisher Scientific's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.37 earnings per share. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.95%.

Analysts Set New Price Targets

TMO has been the subject of several research reports. Wells Fargo & Company reduced their target price on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Barclays lifted their price target on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Robert W. Baird increased their price objective on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Royal Bank Of Canada reduced their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $593.00.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total value of $4,518,200.00. Following the sale, the chief executive officer owned 115,174 shares in the company, valued at $52,037,916.68. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,400 shares of company stock valued at $8,345,792. 0.33% of the stock is currently owned by corporate insiders.

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.