Thermo Fisher Scientific Inc. $TMO Holdings Cut by Farallon Capital Management LLC

Farallon Capital Management LLC decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,258,241 shares of the medical research company’s stock after selling 125,000 shares during the period. Thermo Fisher Scientific accounts for about 2.5% of Farallon Capital Management LLC’s holdings, making the stock its 8th largest holding. Farallon Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $610,272,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Thermo Fisher Scientific during the 3rd quarter valued at $31,000. Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific in the 2nd quarter worth $33,000. Finally, Elevation Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. TD Cowen cut their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Barclays increased their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Citigroup raised their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Morgan Stanley upped their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Stock Down 2.5%

TMO stock opened at $463.99 on Monday. The business has a 50 day moving average of $557.83 and a 200 day moving average of $549.01. The firm has a market cap of $172.36 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. 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 (NYSE:TMO) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the prior year, the firm posted $6.10 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a dividend of $0.47 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is currently 10.60%.

Insider Activity

In related news, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $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 insiders.

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.