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

Suvretta Capital Management LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 69.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after buying an additional 309,207 shares during the period. Capital World Investors boosted its holdings in shares of Thermo Fisher Scientific by 7.4% in the 3rd quarter. Capital World Investors now owns 10,285,145 shares of the medical research company’s stock valued at $4,988,132,000 after acquiring an additional 706,572 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Thermo Fisher Scientific by 21.0% in the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock worth $2,874,069,000 after acquiring an additional 1,028,125 shares during the period. Norges Bank acquired a new position in Thermo Fisher Scientific during the second quarter valued at $2,264,615,000. Finally, Bank of New York Mellon Corp boosted its holdings in Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after purchasing an additional 1,262,967 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several analyst reports. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a report on Sunday, December 7th. Evercore reissued 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 research report on Friday, January 30th. TD Cowen decreased their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

TMO opened at $463.99 on Friday. The company has a market cap of $172.36 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.75 and a beta of 0.96. The firm’s fifty day simple moving average is $557.83 and its two-hundred day simple moving average is $548.17. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. 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 released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the firm earned $6.10 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a $0.47 dividend. This is a boost 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%. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.70%.

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.