Cinctive Capital Management LP Makes New $3.37 Million Investment in Thermo Fisher Scientific Inc. $TMO

Key Points

• Cinctive Capital Management LP bought a new stake in Thermo Fisher (NYSE:TMO) of 6,938 shares valued at about $3.37 million in Q3; institutional investors now own roughly 89.23% of the company.
• Analysts have grown more bullish recently—Morgan Stanley, Barclays and KeyCorp raised targets (to $670, $650 and $750 respectively), and MarketBeat shows a consensus “Moderate Buy” with an average price target of about $633.68.
• Thermo Fisher beat quarterly estimates (EPS $6.57 vs. $6.45; revenue $12.22B vs. $11.95B), raised its quarterly dividend to $0.47, and disclosed insider sales including CEO Marc Casper selling 5,000 shares for roughly $2.56 million.

Cinctive Capital Management LP bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,938 shares of the medical research company's stock, valued at approximately $3,365,000.

Other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC raised its position in Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company's stock valued at $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% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company's stock worth $30,000 after acquiring an additional 66 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth $31,000. Howard Hughes Medical Institute bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC boosted its holdings 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 last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on TMO. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an "overweight" rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Barclays lifted their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Finally, KeyCorp raised Thermo Fisher Scientific from a "sector weight" rating to an "overweight" rating and set a $750.00 target price for the company in a research report on Sunday, December 7th. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $633.68.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. The trade was a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, February 9th. The stock was 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 of the company's stock, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Down 2.5%

Shares of TMO stock opened at $463.99 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The firm has a market cap of $172.36 billion, a P/E ratio of 26.15, a PEG ratio of 2.68 and a beta of 0.96. The company has a 50 day moving average of $557.83 and a 200-day moving average of $549.01. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share 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 during the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the company earned $6.10 earnings per share. Thermo Fisher Scientific's revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a $0.47 dividend. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific's payout ratio is 10.60%.

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.

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