Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Thermo Fisher Scientific Inc. by 9.8%, owning 2.4 million shares valued at over $1.2 billion by the end of the first quarter.
• Thermo Fisher reported $5.36 EPS for the last quarter, surpassing expectations, with a revenue of $10.86 billion, a 2.9% year-over-year increase.
• The company also declared a quarterly dividend of $0.43, representing a yield of 0.4%, with a payout ratio of 9.95%.

Goldman Sachs Group Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,419,617 shares of the medical research company's stock after acquiring an additional 215,232 shares during the quarter. Goldman Sachs Group Inc. owned about 0.64% of Thermo Fisher Scientific worth $1,204,002,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Cypress Advisory Group LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter worth about $253,000. GAMMA Investing LLC boosted its stake in shares of Thermo Fisher Scientific by 22.0% during the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock worth $2,419,000 after acquiring an additional 877 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Thermo Fisher Scientific by 9.5% in the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after acquiring an additional 114,277 shares during the period. Hancock Whitney Corp increased its stake in Thermo Fisher Scientific by 0.6% in the 4th quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock valued at $2,802,000 after purchasing an additional 30 shares in the last quarter. Finally, Cetera Trust Company N.A boosted its position in Thermo Fisher Scientific by 3.3% during the first quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock worth $2,312,000 after purchasing an additional 150 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TMO shares. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a research report on Friday, July 11th. Raymond James Financial restated an "outperform" rating and set a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Finally, UBS Group increased their target price on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $593.00.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total transaction of $4,518,200.00. Following the completion of the sale, the chief executive officer owned 115,174 shares of the company's stock, valued at approximately $52,037,916.68. This represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,400 shares of company stock worth $8,345,792 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Up 1.5%

Shares of TMO stock traded up $6.60 during trading hours on Friday, hitting $461.34. 1,689,914 shares of the company were exchanged, compared to its average volume of 3,227,669. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The firm has a fifty day moving average of $425.62 and a 200 day moving average of $464.94. The firm has a market cap of $174.21 billion, a PE ratio of 26.68, a PEG ratio of 2.43 and a beta of 0.74. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating analysts' consensus estimates of $5.22 by $0.14. The company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. Thermo Fisher Scientific's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $5.37 EPS. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 9.95%.

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.