JGP Global Gestao de Recursos Ltda. Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• JGP Global Gestao de Recursos Ltda. reduced its stake in Thermo Fisher Scientific by 46.2%, leaving it holding 765 shares valued at approximately $381,000.
• Significant increases in holdings were seen from other investors; for instance, GAMMA Investing LLC raised its position by over 60,610%, acquiring 2.4 million shares valued at over $1.2 billion.
• Thermo Fisher Scientific recently reported earnings of $5.36 per share, surpassing estimates and showing a 2.9% year-over-year revenue growth, with analysts projecting an average target price of $593.00.

JGP Global Gestao de Recursos Ltda. decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 46.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 765 shares of the medical research company's stock after selling 657 shares during the period. Thermo Fisher Scientific accounts for 0.3% of JGP Global Gestao de Recursos Ltda.'s holdings, making the stock its 21st biggest position. JGP Global Gestao de Recursos Ltda.'s holdings in Thermo Fisher Scientific were worth $381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC increased its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after buying an additional 20 shares during the period. Port Capital LLC boosted its stake in shares of Thermo Fisher Scientific by 1.6% in the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after buying an additional 22 shares during the last quarter. Clark Capital Management Group Inc. raised its position in Thermo Fisher Scientific by 0.5% during the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock valued at $2,312,000 after acquiring an additional 23 shares in the last quarter. Monograph Wealth Advisors LLC lifted its holdings in Thermo Fisher Scientific by 0.3% in the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock valued at $4,507,000 after acquiring an additional 23 shares during the period. Finally, Intergy Private Wealth LLC grew its stake in shares of Thermo Fisher Scientific by 5.8% during the 1st quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock worth $208,000 after purchasing an additional 23 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Up 0.0%

Shares of NYSE:TMO traded up $0.04 during mid-day trading on Tuesday, reaching $466.61. 1,978,967 shares of the company were exchanged, compared to its average volume of 3,341,029. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The firm's 50-day simple moving average is $422.36 and its 200 day simple moving average is $465.77. The firm has a market cap of $176.20 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 2.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued 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. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the business earned $5.37 EPS. Thermo Fisher Scientific's revenue was up 2.9% on a year-over-year basis. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date 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 is currently 9.95%.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the transaction, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TMO shares. Raymond James Financial reiterated an "outperform" rating and issued a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. HSBC restated a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $593.00.

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.