Fieldview Capital Management LLC Purchases New Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Fieldview Capital Management LLC opened a new position in Thermo Fisher by buying 10,497 shares worth about $5.09 million, representing 0.8% of its portfolio and the firm's 13th-largest holding.
• Thermo Fisher beat expectations for the quarter with EPS $6.57 vs. $6.45 and revenue of $12.22B vs. $11.95B (revenue +7.2% year-over-year); analysts rate the stock a Moderate Buy with an average target of $633.68.
• The company raised its quarterly dividend to $0.47 (annualized $1.88, yield 0.4%, payout ratio 9.7%), while insiders trimmed stakes (CEO sold 5,000 shares; an EVP sold 400), and institutional ownership stands around 89.23%.

Fieldview Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,497 shares of the medical research company's stock, valued at approximately $5,091,000. Thermo Fisher Scientific accounts for 0.8% of Fieldview Capital Management LLC's investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company's stock valued at $29,000 after acquiring an additional 33 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Thermo Fisher Scientific during the 3rd quarter valued at about $31,000. Capital A Wealth Management LLC raised 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. Elevation Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 35.1% in the 3rd 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 period. Finally, Howard Hughes Medical Institute bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at approximately $33,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $501.72 on Monday. The company has a market cap of $186.38 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 2.89 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. The firm's 50-day moving average price is $567.28 and its 200-day moving average price is $549.05. 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 - Get Free Report) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for 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%. Thermo Fisher Scientific's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.10 EPS. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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 given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.43. Thermo Fisher Scientific's payout ratio is currently 9.70%.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at approximately $63,499,170. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent research reports. UBS Group reissued a "neutral" rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Barclays lifted their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a "buy" rating in a report on Friday, January 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average target price of $633.68.

About Thermo Fisher Scientific

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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