Zurcher Kantonalbank Zurich Cantonalbank Has $210.67 Million Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Zurcher Kantonalbank boosted its position in Thermo Fisher by 54.6% in Q4 to 363,570 shares worth $210.67 million, making TMO its 23rd-largest holding and about 0.5% of the bank's portfolio.
• Thermo Fisher topped estimates with quarterly EPS of $6.57 and revenue of $12.22 billion (up 7.2% year-over-year); the company has a market cap near $195.5 billion and a consensus analyst rating of Moderate Buy with a ~$631.25 target.
• The firm raised its quarterly dividend to $0.47 ($1.88 annual, ~0.4% yield), while insiders have sold shares and institutional ownership remains high at 89.23%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 54.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,570 shares of the medical research company's stock after acquiring an additional 128,443 shares during the quarter. Thermo Fisher Scientific makes up approximately 0.5% of Zurcher Kantonalbank Zurich Cantonalbank's portfolio, making the stock its 23rd biggest position. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Thermo Fisher Scientific worth $210,671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors boosted its stake in shares of Thermo Fisher Scientific by 7.4% during the third quarter. Capital World Investors now owns 10,285,145 shares of the medical research company's stock valued at $4,988,132,000 after purchasing an additional 706,572 shares in the last quarter. Franklin Resources Inc. raised its holdings in Thermo Fisher Scientific by 21.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock valued at $2,874,069,000 after buying an additional 1,028,125 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company's stock worth $1,732,422,000 after buying an additional 1,262,967 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Thermo Fisher Scientific by 5.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,087,666 shares of the medical research company's stock worth $1,789,148,000 after acquiring an additional 150,668 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Thermo Fisher Scientific by 1.2% in the 3rd quarter. Fisher Asset Management LLC now owns 2,721,101 shares of the medical research company's stock valued at $1,319,789,000 after acquiring an additional 31,298 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $526.04 on Monday. The firm has a market cap of $195.49 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.82 and a beta of 0.97. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $501.60 and a 200-day moving average price of $550.92. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.During the same quarter in the prior year, the company earned $6.10 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th were paid a $0.47 dividend. The ex-dividend date was Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.60%.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 20,752 shares of the company's stock, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction 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 completion of the sale, the chief executive officer directly owned 123,925 shares of the company's stock, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen cut their price target on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Barclays cut their target price on Thermo Fisher Scientific from $650.00 to $625.00 and set an "overweight" rating on the stock in a report on Tuesday, April 14th. DZ Bank started coverage on Thermo Fisher Scientific in a research note on Friday, March 27th. They issued a "buy" rating and a $610.00 price target for the company. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, Evercore reissued an "outperform" rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $631.25.

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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