Thermo Fisher Scientific Inc. $TMO Shares Acquired by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. increased its stake in Thermo Fisher by 56.9% in Q4, acquiring 279,635 shares to hold 770,868 shares (~0.21% of the company) valued at about $446.7 million.
• Thermo Fisher beat Q4 estimates, reporting EPS of $6.57 versus the $6.45 consensus and revenue of $12.22 billion (up 7.2% year-over-year), with analysts forecasting roughly $23.28 in EPS for the current year.
• The company raised its quarterly dividend to $0.47 (from $0.43), implying a $1.88 annualized payout and a 0.4% yield, payable April 15 with an ex-dividend date of March 13.

Baillie Gifford & Co. lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 56.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 770,868 shares of the medical research company's stock after acquiring an additional 279,635 shares during the quarter. Baillie Gifford & Co. owned about 0.21% of Thermo Fisher Scientific worth $446,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TMO. Brighton Jones LLC increased its position in shares of Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after purchasing an additional 988 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after purchasing an additional 20 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $170,000. Raymond James Financial Inc. lifted its stake in shares of Thermo Fisher Scientific by 7.4% in the 2nd quarter. Raymond James Financial Inc. now owns 778,822 shares of the medical research company's stock worth $315,781,000 after acquiring an additional 53,542 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Thermo Fisher Scientific by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 602,031 shares of the medical research company's stock worth $244,099,000 after acquiring an additional 2,262 shares during the period. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $496.34 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The firm's 50-day moving average is $505.33 and its 200-day moving average is $549.42. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a market cap of $184.45 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.66 and a beta of 0.97.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating 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 business 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 business earned $6.10 EPS. The firm's revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were 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 $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 5,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 123,925 shares of the company's stock, valued at approximately $63,499,170. This represents a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TMO shares. Weiss Ratings reissued a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Wednesday. DZ Bank assumed coverage on shares of Thermo Fisher Scientific in a research note on Friday, March 27th. They set a "buy" rating and a $610.00 target price for the company. Evercore reaffirmed an "outperform" rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Finally, Barclays raised 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. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific currently 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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