Teca Partners LP Takes $12.30 Million Position in Thermo Fisher Scientific Inc. $TMO

Teca Partners LP acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,350 shares of the medical research company’s stock, valued at approximately $12,295,000. Thermo Fisher Scientific comprises about 7.8% of Teca Partners LP’s investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Lombard Odier Asset Management Switzerland SA boosted its holdings in Thermo Fisher Scientific by 8.4% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after purchasing an additional 1,128 shares during the period. Cornerstone Investment Partners LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $41,393,000. Weaver Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $506,000. VELA Investment Management LLC lifted its stake in shares of Thermo Fisher Scientific by 65.5% in the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after buying an additional 3,683 shares during the period. Finally, NEOS Investment Management LLC increased its stake in Thermo Fisher Scientific by 28.6% during the third quarter. NEOS Investment Management LLC now owns 51,364 shares of the medical research company’s stock valued at $24,913,000 after acquiring an additional 11,415 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TMO. Stifel Nicolaus raised their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research report on Sunday, December 7th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Citigroup upped their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Trading Down 0.7%

NYSE:TMO traded down $3.43 during trading hours on Friday, hitting $472.46. 422,081 shares of the stock were exchanged, compared to its average volume of 2,437,779. The company has a market capitalization of $175.51 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 2.86 and a beta of 0.96. 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’s 50 day moving average is $560.39 and its two-hundred day moving average is $548.36. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.10 earnings per share. On average, sell-side analysts anticipate 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 will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.70%.

Insiders Place Their Bets

In other 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by corporate insiders.

About Thermo Fisher Scientific

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.