Picton Mahoney Asset Management Takes $17.01 Million Position in Thermo Fisher Scientific Inc. $TMO

Picton Mahoney Asset Management bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 35,077 shares of the medical research company’s stock, valued at approximately $17,014,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMO. Highline Wealth Partners LLC boosted its stake 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. Capital A Wealth Management LLC boosted its holdings 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 purchasing an additional 66 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $31,000. Howard Hughes Medical Institute purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $33,000. Finally, Elevation Wealth Partners LLC lifted its holdings 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 acquiring an additional 20 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $507.82 on Wednesday. The firm has a 50 day moving average of $571.47 and a two-hundred day moving average of $548.67. The stock has a market capitalization of $188.64 billion, a PE ratio of 28.63, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period last year, the firm earned $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

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

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific 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 completion of the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays raised their price objective on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research report on Sunday, December 7th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One investment 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’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $633.68.

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.