Magnetar Financial LLC Acquires New Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Magnetar Financial LLC bought a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 92,254 shares of the medical research company’s stock, valued at approximately $51,016,000.

Other large investors also recently made changes to their positions in the company. Capital World Investors boosted its holdings in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after buying an additional 1,231,059 shares during the last quarter. Swedbank AB acquired a new stake in Thermo Fisher Scientific in the first quarter worth $705,636,000. Veritas Asset Management LLP grew its holdings in shares of Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after buying an additional 697,383 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $333,786,000. Finally, Capital Research Global Investors raised its position in shares of Thermo Fisher Scientific by 6.9% during the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after purchasing an additional 517,137 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TMO. Royal Bank of Canada restated an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a report on Friday. Jefferies Financial Group restated a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Bank of America increased their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of TMO stock opened at $613.69 on Monday. The firm has a market capitalization of $234.26 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $599.56 and its 200 day simple moving average is $581.38. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the company earned $5.15 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Company 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.