Skye Global Management LP Boosts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Skye Global Management LP boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 77.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,500 shares of the medical research company’s stock after purchasing an additional 46,500 shares during the period. Thermo Fisher Scientific makes up about 1.2% of Skye Global Management LP’s investment portfolio, making the stock its 16th biggest holding. Skye Global Management LP’s holdings in Thermo Fisher Scientific were worth $55,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cypress Advisory Group LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $253,000. Border to Coast Pensions Partnership Ltd boosted its holdings in Thermo Fisher Scientific by 12.3% in the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 93,913 shares of the medical research company’s stock valued at $48,824,000 after purchasing an additional 10,305 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Thermo Fisher Scientific by 34.0% during the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company’s stock worth $1,353,000 after buying an additional 660 shares in the last quarter. Purkiss Capital Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $1,121,000. Finally, Avanza Fonder AB bought a new position in Thermo Fisher Scientific during the 4th quarter valued at $15,562,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TMO. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Barclays decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. UBS Group cut their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Citigroup dropped their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Raymond James restated an “outperform” rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $607.43.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $404.27 on Friday. The firm has a market capitalization of $152.61 billion, a PE ratio of 24.46, a P/E/G ratio of 2.99 and a beta of 0.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 12 month low of $390.50 and a 12 month high of $627.88. The company’s 50 day simple moving average is $455.92 and its 200 day simple moving average is $511.36.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same quarter in the prior year, the firm posted $5.11 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast 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 was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.43%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at $59,506,950.58. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,075 shares of company stock worth $7,305,942. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Profile

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.