Picton Mahoney Asset Management Purchases Shares of 35,077 Thermo Fisher Scientific Inc. $TMO

Picton Mahoney Asset Management acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 3rd quarter, Holdings Channel reports. The fund acquired 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 bought and sold shares of TMO. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the second quarter worth about $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $807,713,000. Flossbach Von Storch SE increased its position in Thermo Fisher Scientific by 93.0% during the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after buying an additional 1,314,182 shares during the period. Bank of New York Mellon Corp lifted its stake in Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after buying an additional 1,262,967 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its holdings in shares of Thermo Fisher Scientific by 282.5% in the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after acquiring an additional 977,127 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Michel Lagarde sold 22,046 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the sale, the chief operating officer directly owned 84,117 shares in the company, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on TMO shares. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. UBS Group restated a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Evercore reiterated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Barclays lifted their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Stock Down 0.1%

TMO stock opened at $507.82 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. 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 company has a market cap of $188.64 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.93 and a beta of 0.96. The company’s 50-day moving average price is $571.47 and its 200 day moving average price is $548.67.

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

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

Thermo Fisher Scientific Increases Dividend

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