Baillie Gifford & Co. Sells 13,443 Shares of Thermo Fisher Scientific Inc. $TMO

Baillie Gifford & Co. lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 491,233 shares of the medical research company’s stock after selling 13,443 shares during the quarter. Baillie Gifford & Co.’s holdings in Thermo Fisher Scientific were worth $238,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after acquiring an additional 33 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 66 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its stake in shares of Thermo Fisher Scientific by 406.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 61 shares during the last quarter. HighMark Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 140.6% during the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after buying an additional 45 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TMO has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. UBS Group raised their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Friday. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Finally, Wells Fargo & Company increased their price target on Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Insider Buying and Selling

In other news, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares in the company, valued at $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares in the company, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 131,767 shares of company stock worth $76,467,793 over the last 90 days. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $625.42 on Friday. The firm has a market cap of $234.98 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 4.21 and a beta of 0.91. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. The business’s 50 day moving average price is $590.88 and its two-hundred day moving average price is $530.87.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.29. The company had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. Thermo Fisher Scientific’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.28 EPS. On average, equities 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 was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a dividend of $0.43 per share. The ex-dividend date was Monday, December 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.94%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.