Gotham Asset Management LLC Reduces Stake in Thermo Fisher Scientific Inc. $TMO

Key Points

• Gotham Asset Management reduced its stake in Thermo Fisher by 10% to 71,776 shares, worth about $34.81 million at the end of the reported quarter.
• Thermo Fisher beat quarterly expectations (EPS $6.57 vs. $6.45 est.; revenue $12.22B vs. $11.95B) and raised its quarterly dividend to $0.47 from $0.43.
• Analysts remain largely positive, with a MarketBeat average rating of "Moderate Buy" and an average price target of $633.68, while several firms recently lifted their targets.

Gotham Asset Management LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,776 shares of the medical research company's stock after selling 7,986 shares during the quarter. Gotham Asset Management LLC's holdings in Thermo Fisher Scientific were worth $34,813,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Highline Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company's stock worth $29,000 after purchasing an additional 33 shares during the period. Capital A Wealth Management LLC grew its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company's stock valued at $30,000 after buying an additional 66 shares during the period. Cloud Capital Management LLC purchased a new stake in Thermo Fisher Scientific during the third quarter valued at approximately $31,000. Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific in the second quarter worth approximately $33,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company's stock worth $37,000 after acquiring an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TMO. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 2nd. Citigroup upped their price target on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. HSBC raised Thermo Fisher Scientific from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 1st. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Finally, UBS Group restated a "neutral" rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $633.68.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $471.12 on Tuesday. The business's 50-day simple moving average is $555.03 and its two-hundred day simple moving average is $548.87. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The stock has a market cap of $175.01 billion, a PE ratio of 26.56, a P/E/G ratio of 2.68 and a beta of 0.96. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $6.10 earnings per share. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.60%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of the 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 transaction, the chief executive officer directly owned 123,925 shares of the company's stock, valued at $63,499,170. This trade 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 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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