Otter Creek Advisors LLC Makes New Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Otter Creek Advisors LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,909 shares of the medical research company’s stock, valued at approximately $2,309,000. Thermo Fisher Scientific accounts for about 0.9% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 1,359.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,612 shares of the medical research company’s stock worth $6,268,000 after purchasing an additional 9,885 shares during the period. Marietta Wealth Management LLC grew its stake in Thermo Fisher Scientific by 4.3% during the first quarter. Marietta Wealth Management LLC now owns 12,912 shares of the medical research company’s stock worth $7,626,000 after buying an additional 529 shares during the last quarter. California State Teachers Retirement System grew its stake in Thermo Fisher Scientific by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 708,079 shares of the medical research company’s stock worth $472,459,000 after buying an additional 4,340 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Thermo Fisher Scientific by 1.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 24,890 shares of the medical research company’s stock worth $16,608,000 after buying an additional 262 shares during the last quarter. Finally, Baystate Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 33.9% during the first quarter. Baystate Wealth Management LLC now owns 83 shares of the medical research company’s stock worth $49,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TMO shares. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $670.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Wells Fargo & Company lowered shares of Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $605.00 to $525.00 in a report on Monday, April 25th. Barclays increased their price objective on shares of Thermo Fisher Scientific from $630.00 to $685.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Finally, SVB Leerink increased their price objective on shares of Thermo Fisher Scientific from $630.00 to $650.00 and gave the company an “outperform” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $661.08.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $0.26 during trading hours on Friday, reaching $590.26. The stock had a trading volume of 982,467 shares, compared to its average volume of 1,459,510. The stock has a 50-day simple moving average of $549.03 and a 200 day simple moving average of $557.79. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.13. The stock has a market capitalization of $231.06 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. Thermo Fisher Scientific Inc. has a fifty-two week low of $497.83 and a fifty-two week high of $672.34.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last posted its earnings results on Thursday, July 28th. The medical research company reported $5.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.92 by $0.59. Thermo Fisher Scientific had a net margin of 17.37% and a return on equity of 24.36%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $9.95 billion. During the same quarter last year, the company posted $5.60 EPS. Thermo Fisher Scientific’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 22.92 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.20%. The ex-dividend date is Wednesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 6.39%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, Director Jim P. Manzi sold 814 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $597.24, for a total transaction of $486,153.36. Following the sale, the director now directly owns 15,807 shares of the company’s stock, valued at approximately $9,440,572.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 814 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $597.24, for a total transaction of $486,153.36. Following the sale, the director now directly owns 15,807 shares of the company’s stock, valued at approximately $9,440,572.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michel Lagarde sold 17,150 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $548.30, for a total transaction of $9,403,345.00. Following the completion of the transaction, the chief operating officer now owns 15,758 shares in the company, valued at approximately $8,640,111.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,994 shares of company stock valued at $29,033,170 in the last ninety days. 0.43% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Company Profile

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Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

See Also

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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