TIAA Trust National Association Acquires 17,724 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• TIAA Trust National Association increased its stake in Thermo Fisher Scientific Inc. by 18.8%, acquiring an additional 17,724 shares during the first quarter, bringing its total holdings to 112,131 shares worth $55.8 million.
• Several institutional investors have raised their stakes significantly, with GAMMA Investing LLC boosting its position by an astonishing 60,610.9% during the same period.
• Thermo Fisher Scientific recently announced a quarterly dividend of $0.43 per share, to be paid on October 15th to shareholders of record as of September 15th.

TIAA Trust National Association boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,131 shares of the medical research company's stock after acquiring an additional 17,724 shares during the quarter. TIAA Trust National Association's holdings in Thermo Fisher Scientific were worth $55,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. GAMMA Investing LLC raised its position in Thermo Fisher Scientific by 60,610.9% during the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock valued at $1,203,859,000 after acquiring an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Thermo Fisher Scientific by 86.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after purchasing an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after purchasing an additional 858,193 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Thermo Fisher Scientific by 140.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock valued at $569,062,000 after purchasing an additional 639,467 shares during the period. Finally, Farallon Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 73.8% in the fourth quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock valued at $641,577,000 after purchasing an additional 523,800 shares during the period. Institutional investors own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the sale, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Down 1.1%

TMO opened at $462.74 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. The firm's fifty day moving average price is $420.88 and its two-hundred day moving average price is $467.66. The company has a market capitalization of $174.68 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.50 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping 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 firm had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the previous year, the company earned $5.37 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 9.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Hsbc Global Res lowered shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays raised their price objective on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific 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.

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