XTX Topco Ltd Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• XTX Topco Ltd increased its stake in Thermo Fisher Scientific Inc. by 684.5% in the first quarter, owning 15,901 shares valued at approximately $7.91 million.
• Analysts have set a consensus price target of $593.00 for Thermo Fisher Scientific, with six analysts rating it as a hold and sixteen as a buy.
• Thermo Fisher Scientific declared a quarterly dividend of $0.43, to be paid on October 15th, representing an annual yield of around 0.35%.

XTX Topco Ltd boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 684.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,901 shares of the medical research company's stock after buying an additional 13,874 shares during the quarter. Thermo Fisher Scientific makes up 0.4% of XTX Topco Ltd's portfolio, making the stock its 12th largest position. XTX Topco Ltd's holdings in Thermo Fisher Scientific were worth $7,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in shares of Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after purchasing an additional 104,343 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Thermo Fisher Scientific by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock worth $4,075,540,000 after buying an additional 197,442 shares during the last quarter. Northern Trust Corp grew its position in shares of Thermo Fisher Scientific by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock worth $2,034,107,000 after buying an additional 455,004 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after buying an additional 1,433,444 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Thermo Fisher Scientific by 7.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock worth $1,432,816,000 after buying an additional 193,378 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

TMO has been the topic of a number of analyst reports. Wells Fargo & Company cut 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 report on Thursday, July 24th. Evercore ISI cut their price objective 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. Barclays boosted their target price on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, 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 report on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded down $5.15 during trading hours on Wednesday, hitting $477.01. The stock had a trading volume of 2,582,474 shares, compared to its average volume of 3,124,954. 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 50-day moving average price of $418.15 and a 200 day moving average price of $468.92. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The firm has a market capitalization of $180.07 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.58 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.14. The firm had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The business's revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $5.37 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is presently 9.95%.

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.