Spear Holdings RSC Ltd Makes New Investment in Thermo Fisher Scientific Inc. $TMO

Spear Holdings RSC Ltd acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 226,321 shares of the medical research company’s stock, valued at approximately $109,770,000. Thermo Fisher Scientific accounts for approximately 6.2% of Spear Holdings RSC Ltd’s portfolio, making the stock its 7th biggest position. Spear Holdings RSC Ltd owned 0.06% of Thermo Fisher Scientific as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $2,264,615,000. Soundwatch Capital LLC purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $807,713,000. Flossbach Von Storch SE lifted its position in shares of Thermo Fisher Scientific by 93.0% during the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after purchasing an additional 1,314,182 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Thermo Fisher Scientific by 282.5% during the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after purchasing an additional 977,127 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Thermo Fisher Scientific by 58.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,293,264 shares of the medical research company’s stock valued at $929,828,000 after buying an additional 843,267 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $639.03 on Friday. The stock has a market capitalization of $240.09 billion, a P/E ratio of 36.92, a P/E/G ratio of 4.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The company’s fifty day moving average is $589.96 and its two-hundred day moving average is $529.43.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $5.28 earnings per share. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TMO. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. TD Cowen restated a “buy” rating on shares of Thermo Fisher Scientific in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company lifted their target price on Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $625.47.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the completion of the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $566.10, for a total value of $4,104,225.00. Following the completion of the sale, the chief executive officer directly owned 113,762 shares in the company, valued at $64,400,668.20. This trade represents a 5.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 131,767 shares of company stock valued at $76,467,793 in the last three months. Insiders own 0.33% of the company’s stock.

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.