Wellington Management Group LLP Purchases 1,270,191 Shares of Thermo Fisher Scientific Inc. $TMO

Wellington Management Group LLP grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 88.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,699,460 shares of the medical research company’s stock after acquiring an additional 1,270,191 shares during the period. Wellington Management Group LLP owned about 0.72% of Thermo Fisher Scientific worth $1,309,292,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC increased its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $31,000. Capital A Wealth Management LLC raised its stake in Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares during the period. Elevation Wealth Partners LLC boosted its position in Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the period. Finally, Howard Hughes Medical Institute bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a report on Sunday, December 7th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. Finally, UBS Group reissued a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 123,925 shares in the company, valued at $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the business’s 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 owned 20,752 shares in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Down 2.5%

Shares of TMO opened at $463.99 on Friday. The business’s 50 day simple moving average is $557.83 and its 200-day simple moving average is $548.17. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock has a market capitalization of $172.36 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly 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 net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the previous year, the business posted $6.10 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, March 13th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Thermo Fisher Scientific 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.