Thermo Fisher Scientific Inc. $TMO Shares Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in Thermo Fisher by 34.1% in Q4 to 9,242 shares (worth $5.356M), and overall institutional ownership is very high at 89.23%.
• Analysts carry a consensus rating of "Moderate Buy" with a consensus target price of $632.50, and individual price targets from firms range roughly from $610 to $683.
• Thermo Fisher beat Q4 estimates (EPS $6.57 vs. $6.45; revenue $12.22B, +7.2% year-over-year), raised its quarterly dividend to $0.47 (annual $1.88), and disclosed insider sales including CEO Marc Casper selling 5,000 shares.

Ritholtz Wealth Management grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,242 shares of the medical research company's stock after purchasing an additional 2,349 shares during the period. Ritholtz Wealth Management's holdings in Thermo Fisher Scientific were worth $5,356,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Argus Investors Counsel Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at $585,000. Richardson Financial Services Inc. lifted its holdings in shares of Thermo Fisher Scientific by 1.7% during the fourth quarter. Richardson Financial Services Inc. now owns 1,506 shares of the medical research company's stock valued at $866,000 after purchasing an additional 25 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Thermo Fisher Scientific by 5.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,087,666 shares of the medical research company's stock valued at $1,789,148,000 after purchasing an additional 150,668 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Venturi Wealth Management LLC now owns 1,350 shares of the medical research company's stock valued at $782,000 after purchasing an additional 55 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 1.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 194,369 shares of the medical research company's stock valued at $112,701,000 after purchasing an additional 2,109 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TMO has been the topic of several recent analyst reports. Robert W. Baird set a $653.00 price target on Thermo Fisher Scientific in a research report on Friday, January 30th. DZ Bank initiated coverage on Thermo Fisher Scientific in a research report on Friday, March 27th. They set a "buy" rating and a $610.00 price target on the stock. UBS Group reissued a "neutral" rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Barclays upped their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $632.50.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $63,499,170. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president 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 SEC filing for this sale provides additional information. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $496.34 on Friday. 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 fifty-two week low of $385.46 and a fifty-two week high of $643.99. The stock's 50-day moving average is $505.33 and its two-hundred day moving average is $548.30. The firm has a market cap of $184.45 billion, a P/E ratio of 27.98, a PEG ratio of 2.68 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, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the firm posted $6.10 EPS. The business's revenue was up 7.2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

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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