TCI Fund Management Ltd. Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

TCI Fund Management Ltd. grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1,208.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 834,150 shares of the medical research company’s stock after acquiring an additional 770,380 shares during the period. Thermo Fisher Scientific accounts for 1.6% of TCI Fund Management Ltd.’s holdings, making the stock its 9th biggest holding. TCI Fund Management Ltd. owned about 0.22% of Thermo Fisher Scientific worth $480,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Silicon Valley Capital Partners purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $29,000. OLD Mission Capital LLC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $31,000. Live Oak Investment Partners purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $36,000. Barrett & Company Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $43,000. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $43,000. 87.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the topic of a number of research reports. KeyCorp cut their price objective on shares of Thermo Fisher Scientific from $710.00 to $640.00 in a research note on Thursday, May 25th. Wells Fargo & Company raised their price target on shares of Thermo Fisher Scientific from $505.00 to $520.00 and gave the stock an “underweight” rating in a research note on Friday, July 28th. Citigroup assumed coverage on shares of Thermo Fisher Scientific in a research note on Wednesday. They set a “buy” rating and a $625.00 target price on the stock. StockNews.com cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. Finally, Barclays lifted their price objective on shares of Thermo Fisher Scientific from $590.00 to $625.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $631.71.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the transaction, the executive vice president now owns 17,556 shares of the company’s stock, valued at $9,792,210.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Stephen Williamson sold 14,100 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $550.00, for a total transaction of $7,755,000.00. Following the completion of the transaction, the chief financial officer now owns 27,393 shares of the company’s stock, valued at $15,066,150. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now directly owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,700 shares of company stock worth $15,799,270. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.5 %

TMO stock opened at $518.27 on Friday. Thermo Fisher Scientific Inc. has a one year low of $475.77 and a one year high of $609.85. The stock has a market capitalization of $200.03 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.02 and a current ratio of 1.42. The company has a fifty day moving average of $540.81 and a 200-day moving average of $542.61.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 26th. The medical research company reported $5.15 earnings per share for the quarter, missing the consensus estimate of $5.43 by ($0.28). Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter last year, the business posted $5.51 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a $0.35 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.57%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.