Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Metis Global Partners LLC

Key Points

• Metis Global Partners LLC increased its stake in Thermo Fisher Scientific Inc. by 11.9% in the first quarter, owning 23,493 shares worth approximately $11.69 million.
• Analysts have varied ratings on Thermo Fisher, with Barclays raising the price objective from $450 to $490 and others upgrading the stock to "buy" or "outperform."
• The company reported $5.36 earnings per share, exceeding expectations, alongside revenues of $10.86 billion for the quarter.

Metis Global Partners LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 11.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,493 shares of the medical research company's stock after buying an additional 2,503 shares during the quarter. Metis Global Partners LLC's holdings in Thermo Fisher Scientific were worth $11,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Thermo Fisher Scientific by 60,610.9% in the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after purchasing an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Thermo Fisher Scientific by 86.9% during the fourth 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 buying an additional 1,433,444 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 1,905.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after purchasing an additional 858,193 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Thermo Fisher Scientific by 140.7% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock worth $569,062,000 after acquiring an additional 639,467 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its stake in Thermo Fisher Scientific by 73.8% in the fourth quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock valued at $641,577,000 after acquiring an additional 523,800 shares during the period. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TMO shares. UBS Group boosted their target price on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $535.00 target price (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Hsbc Global Res cut shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note 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 report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded down $3.85 during trading hours on Thursday, reaching $473.43. The company's stock had a trading volume of 2,103,252 shares, compared to its average volume of 2,520,280. The firm has a 50 day moving average price of $418.15 and a 200-day moving average price of $468.92. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. 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 stock has a market cap of $178.71 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.58 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter in the prior year, the company posted $5.37 earnings per share. Thermo Fisher Scientific's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared 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 is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.36%. Thermo Fisher Scientific's dividend 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.