Suvretta Capital Management LLC Grows Position in Thermo Fisher Scientific Inc. $TMO

Suvretta Capital Management LLC boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 69.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,400 shares of the medical research company’s stock after purchasing an additional 5,500 shares during the period. Suvretta Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $6,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TMO. Highline Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 126.9% during the 3rd 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 during the period. Capital A Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 825.0% during the second 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 during the period. Cloud Capital Management LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth about $31,000. Howard Hughes Medical Institute purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth about $33,000. Finally, Elevation Wealth Partners LLC lifted its holdings in Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.5%

Shares of Thermo Fisher Scientific stock opened at $463.99 on Friday. 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 company has a market cap of $172.36 billion, a P/E ratio of 26.15, a PEG ratio of 2.75 and a beta of 0.96. The firm’s 50 day moving average price is $557.83 and its 200-day moving average price is $548.17. 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) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 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 analysts’ expectations 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 for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.10 earnings per share. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm 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 dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is currently 9.70%.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific 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 directly owned 123,925 shares in the company, valued at $63,499,170. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were 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 in the company, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TMO. UBS Group restated a “neutral” rating and issued a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Evercore reiterated an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. Morgan Stanley upped their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Finally, Stifel Nicolaus raised their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Company 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.