Thermo Fisher Scientific Inc. $TMO is Grantham Mayo Van Otterloo & Co. LLC's 9th Largest Position

Key Points

• Grantham Mayo Van Otterloo & Co. raised its stake in Thermo Fisher by 15.7% during the third quarter to 2,141,863 shares, making TMO its 9th-largest position and representing about 0.57% of Thermo Fisher (roughly $1.04 billion) and 2.9% of GMO's holdings.
• Thermo Fisher beat quarterly estimates with $6.57 EPS vs. $6.45 expected and $12.22 billion in revenue (up 7.2% year-over-year); analysts hold a consensus "Moderate Buy" rating with an average price target of about $633.68.

Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 15.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,141,863 shares of the medical research company's stock after purchasing an additional 290,558 shares during the period. Thermo Fisher Scientific accounts for 2.9% of Grantham Mayo Van Otterloo & Co. LLC's holdings, making the stock its 9th biggest position. Grantham Mayo Van Otterloo & Co. LLC owned about 0.57% of Thermo Fisher Scientific worth $1,038,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company's stock worth $13,700,154,000 after acquiring an additional 309,207 shares during the last quarter. Norges Bank purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at $2,264,615,000. Franklin Resources Inc. boosted its stake in Thermo Fisher Scientific by 11.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company's stock worth $1,985,759,000 after purchasing an additional 498,238 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 buying an additional 1,262,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Thermo Fisher Scientific by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company's stock valued at $1,216,612,000 after buying an additional 74,971 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. KeyCorp upgraded Thermo Fisher Scientific from a "sector weight" rating to an "overweight" rating and set a $750.00 price target for the company in a research report on Sunday, December 7th. TD Cowen cut their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating for the company in a report on Friday, January 30th. Finally, UBS Group reissued a "neutral" rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $501.72 on Friday. The firm has a 50 day simple moving average of $567.28 and a 200-day simple moving average of $548.67. The stock has a market cap of $186.38 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

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

Thermo Fisher Scientific Increases Dividend

The firm 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 $0.47 dividend. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is currently 9.70%.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction 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 approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were 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 approximately $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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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