Bristol Gate Capital Partners Inc. Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Bristol Gate Capital Partners Inc. increased its stake in Thermo Fisher Scientific Inc. by 1.3% in the first quarter, holding 162,315 shares valued at approximately $80.77 million.
• In recent ratings changes, Wall Street analysts have upgraded Thermo Fisher Scientific from a "hold" to a "buy" rating, with a consensus price target of $593.00.
• Thermo Fisher Scientific's quarterly earnings report showed an EPS of $5.36, surpassing expectations, with revenue up 2.9% year-over-year to $10.86 billion.

Bristol Gate Capital Partners Inc. increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,315 shares of the medical research company's stock after buying an additional 2,011 shares during the quarter. Thermo Fisher Scientific accounts for approximately 3.9% of Bristol Gate Capital Partners Inc.'s holdings, making the stock its 18th biggest position. Bristol Gate Capital Partners Inc.'s holdings in Thermo Fisher Scientific were worth $80,768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TMO. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $30,000. IMA Advisory Services Inc. bought a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $35,000. Navigoe LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Thermo Fisher Scientific in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Down 2.0%

Shares of Thermo Fisher Scientific stock traded down $9.72 during trading on Thursday, hitting $467.56. The company's stock had a trading volume of 3,413,838 shares, compared to its average volume of 3,120,658. 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 Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The stock has a market cap of $176.50 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. The stock has a 50-day moving average price of $419.50 and a two-hundred day moving average price of $468.31.

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 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 business had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter in the prior year, the firm posted $5.37 earnings per share. The business's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal 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 given a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TMO shares. HSBC reissued a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Raymond James Financial restated an "outperform" rating and issued a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Argus reduced their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average target price of $593.00.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 400 shares of the firm's 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

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.