Russell Investments Group Ltd. Acquires 17,968 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Russell Investments Group Ltd. raised its stake in Thermo Fisher Scientific (TMO) by 7.9%, buying 17,968 shares to hold 245,766 shares valued at about $118.8 million, and institutional investors now own roughly 89.23% of the company.
• Thermo Fisher beat quarterly estimates with EPS of $6.57 (vs. $6.45) and revenue of $12.22 billion (+7.2% YoY), and the company increased its quarterly dividend to $0.47 (annualized $1.88, yield 0.4%).
• Insider activity shows CEO Marc N. Casper sold 5,000 shares, while analysts remain largely positive—18 Buys, 2 Holds—with an average price target near $633.68 and several recent upgrades.

Russell Investments Group Ltd. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 245,766 shares of the medical research company's stock after buying an additional 17,968 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Thermo Fisher Scientific worth $118,773,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Lombard Odier Asset Management Switzerland SA lifted its stake in shares of Thermo Fisher Scientific by 8.4% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company's stock valued at $5,875,000 after buying an additional 1,128 shares during the period. Cornerstone Investment Partners LLC acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at approximately $41,393,000. Weaver Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $506,000. VELA Investment Management LLC grew its holdings in shares of Thermo Fisher Scientific by 65.5% during the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company's stock worth $4,513,000 after purchasing an additional 3,683 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in shares of Thermo Fisher Scientific by 28.6% during the third quarter. NEOS Investment Management LLC now owns 51,364 shares of the medical research company's stock valued at $24,913,000 after purchasing an additional 11,415 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $510.28 on Tuesday. The business has a fifty day moving average of $565.80 and a 200-day moving average of $549.24. 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 Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The firm has a market cap of $189.56 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly 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 business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.10 EPS. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific's payout ratio is currently 9.70%.

Wall Street Analysts Forecast Growth

TMO has been the subject of several research reports. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Barclays boosted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, January 30th. KeyCorp raised shares of Thermo Fisher Scientific from a "sector weight" rating to an "overweight" rating and set a $750.00 price objective for the company in a report on Sunday, December 7th. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a "buy" rating and a $685.00 target price on the stock. Finally, UBS Group reissued a "neutral" rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One investment 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 company has an average rating of "Moderate Buy" and an average price target of $633.68.

Insider Buying and Selling

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

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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