Weitz Investment Management Inc. Has $62.77 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Weitz Investment Management Inc. increased its stake in Thermo Fisher Scientific by 5.0% during Q1, owning 126,150 shares valued at approximately $62.77 million.
• Other institutional investors have also significantly increased their holdings, with GAMMA Investing LLC boosting its position by 60,610.9% in the same quarter.
• Thermo Fisher Scientific reported a quarterly EPS of $5.36, exceeding analysts' estimates, and announced a quarterly dividend of $0.43 to be paid on October 15.

Weitz Investment Management Inc. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,150 shares of the medical research company's stock after acquiring an additional 5,950 shares during the period. Thermo Fisher Scientific accounts for 3.3% of Weitz Investment Management Inc.'s investment portfolio, making the stock its 10th largest holding. Weitz Investment Management Inc.'s holdings in Thermo Fisher Scientific were worth $62,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after buying an additional 20 shares during the period. Port Capital LLC increased its stake in shares of Thermo Fisher Scientific by 1.6% in the 4th quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after acquiring an additional 22 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in Thermo Fisher Scientific by 0.5% during the 4th quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock valued at $2,312,000 after acquiring an additional 23 shares during the period. Monograph Wealth Advisors LLC grew its holdings in Thermo Fisher Scientific by 0.3% in the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock worth $4,507,000 after purchasing an additional 23 shares during the period. Finally, Intergy Private Wealth LLC boosted its position in shares of Thermo Fisher Scientific by 5.8% in the 1st quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock worth $208,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock traded up $0.04 during mid-day trading on Tuesday, reaching $466.61. 1,978,967 shares of the company's stock traded hands, compared to its average volume of 3,341,029. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The firm has a market capitalization of $176.20 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $627.88. The firm has a 50 day moving average price of $422.36 and a two-hundred day moving average price of $465.77.

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, topping analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter in the prior year, the business posted $5.37 earnings per share. The business's quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.43 per share. 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 dividend payout ratio (DPR) is presently 9.95%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Argus dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Hsbc Global Res downgraded Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target for the company in a research note on Friday, July 11th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $593.00.

About Thermo Fisher Scientific

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.