Holocene Advisors LP Invests $46.70 Million in Thermo Fisher Scientific Inc. $TMO

Key Points

• Holocene Advisors LP opened a new position in Thermo Fisher, buying 96,292 shares valued at about $46.7 million in the 3rd quarter, as institutional ownership sits around 89.23%.
• Thermo Fisher beat quarterly estimates with $6.57 EPS and $12.22 billion in revenue (+7.2% YoY), raised its quarterly dividend to $0.47 ($1.88 annualized), and analysts have pushed targets higher (average ≈ $633.68) with mostly Buy ratings.

Holocene Advisors LP bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 96,292 shares of the medical research company's stock, valued at approximately $46,704,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC boosted its holdings in shares of 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 in the last quarter. Capital A Wealth Management LLC raised its stake 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 in the last quarter. Cloud Capital Management LLC purchased a new stake in Thermo Fisher Scientific in the third quarter valued at $31,000. Howard Hughes Medical Institute acquired a new position in Thermo Fisher Scientific in the second quarter valued at $33,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of 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. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $471.12 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The company has a market cap of $175.01 billion, a PE ratio of 26.56, a P/E/G ratio of 2.68 and a beta of 0.96. The stock has a fifty day moving average price of $555.03 and a 200 day moving average price of $548.87. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year 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 EPS for the quarter, topping analysts' consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the firm earned $6.10 EPS. Thermo Fisher Scientific's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date 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 presently 10.60%.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 5,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 123,925 shares of the company's stock, valued at $63,499,170. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMO. Barclays upped their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 30th. Evercore reaffirmed an "outperform" rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, KeyCorp upgraded shares of Thermo Fisher Scientific from a "sector weight" rating to an "overweight" rating and set a $750.00 price objective on the stock in a research note 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $633.68.

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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