Massachusetts Financial Services Co. MA Increases Stock Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Massachusetts Financial Services Co. MA raised its Thermo Fisher stake by 5.1% in Q4 to 3,087,666 shares, representing about 0.82% ownership worth roughly $1.79 billion.
• Thermo Fisher beat quarterly estimates, reporting $6.57 EPS on $12.22 billion in revenue (up 7.2% YoY), and increased its quarterly dividend to $0.47 ($1.88 annualized, 0.4% yield).
• Wall Street is mostly positive with a consensus "Moderate Buy" and an average target of $632.50, while institutional ownership is high (~89%) and insiders own about 0.33% of the stock.

Massachusetts Financial Services Co. MA lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,087,666 shares of the medical research company's stock after acquiring an additional 150,668 shares during the period. Massachusetts Financial Services Co. MA owned 0.82% of Thermo Fisher Scientific worth $1,789,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Capital World Investors grew its position in shares of Thermo Fisher Scientific by 7.4% during the third quarter. Capital World Investors now owns 10,285,145 shares of the medical research company's stock worth $4,988,132,000 after acquiring an additional 706,572 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Thermo Fisher Scientific by 21.0% during the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock worth $2,874,069,000 after acquiring an additional 1,028,125 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Thermo Fisher Scientific by 54.7% during the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company's stock worth $1,732,422,000 after acquiring an additional 1,262,967 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Thermo Fisher Scientific by 1.2% during the third quarter. Fisher Asset Management LLC now owns 2,721,101 shares of the medical research company's stock worth $1,319,789,000 after acquiring an additional 31,298 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Thermo Fisher Scientific by 88.9% during the third quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company's stock worth $1,309,292,000 after acquiring an additional 1,270,191 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction dated 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 directly owned 20,752 shares in the company, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $496.34 on Friday. The firm has a market capitalization of $184.45 billion, a P/E ratio of 27.98, a PEG ratio of 2.68 and a beta of 0.97. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company's fifty day moving average is $505.33 and its two-hundred day moving average is $548.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

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

Thermo Fisher Scientific Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TMO shares. Barclays raised their target price on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Thermo Fisher Scientific in a research report on Wednesday. UBS Group reiterated a "neutral" rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. DZ Bank started coverage on shares of Thermo Fisher Scientific in a research report on Friday, March 27th. They issued a "buy" rating and a $610.00 price objective on the stock. Finally, Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus target price of $632.50.

Thermo Fisher Scientific Company 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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