Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Increased by Suvretta Capital Management LLC

Suvretta Capital Management LLC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,900 shares of the medical research company’s stock after purchasing an additional 640 shares during the quarter. Suvretta Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $4,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Thermo Fisher Scientific by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after purchasing an additional 196,864 shares during the period. Capital World Investors raised its position in shares of Thermo Fisher Scientific by 1.1% in the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock valued at $4,905,812,000 after purchasing an additional 104,343 shares during the period. Geode Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company’s stock valued at $4,075,540,000 after purchasing an additional 197,442 shares during the period. Norges Bank bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $3,149,754,000. Finally, Northern Trust Corp raised its position in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock valued at $2,034,107,000 after purchasing an additional 455,004 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TMO shares. StockNews.com downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada lowered their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. UBS Group lowered their price objective on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Raymond James restated an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $607.43.

Insider Activity at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. The trade was a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,075 shares of company stock valued at $7,305,942 over the last ninety days. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Up 1.8%

Shares of NYSE TMO opened at $412.15 on Friday. The stock has a market cap of $155.58 billion, a PE ratio of 24.93, a PEG ratio of 2.99 and a beta of 0.82. The business has a fifty day moving average of $453.88 and a two-hundred day moving average of $510.42. Thermo Fisher Scientific Inc. has a 52-week low of $390.50 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business’s revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $5.11 earnings per share. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.09%.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.