Braidwell LP has reduced its holdings in Thermo Fisher Scientific Inc. (NYSE: TMO) by 15.8% during the third quarter of 2023. According to data from HoldingsChannel.com, the firm owned 113,933 shares after selling 21,300 shares in the quarter. This adjustment brings Thermo Fisher Scientific to represent approximately 1.6% of Braidwell LP’s portfolio, making it the fund’s 22nd largest holding. At the end of the reporting period, Braidwell LP’s shares in Thermo Fisher were valued at around $55.26 million.
Other institutional investors have similarly adjusted their positions in Thermo Fisher recently. Vanguard Group Inc. increased its stake by 0.9% during the second quarter, now owning 33,789,164 shares worth approximately $13.7 billion after acquiring an additional 309,207 shares. Meanwhile, Capital World Investors expanded its holdings by 7.4% in the third quarter, bringing its total to 10,285,145 shares valued at about $4.99 billion.
Additionally, Franklin Resources Inc. has increased its position by 21.0%, now owning 5,925,671 shares valued at $2.87 billion. Notably, Norges Bank acquired a new position in the second quarter worth approximately $2.26 billion, while Bank of New York Mellon Corp boosted its stake by 54.7%, acquiring an additional 1,262,967 shares to reach a total of 3,571,857 shares valued at around $1.73 billion. Currently, institutional investors and hedge funds hold approximately 89.23% of the company’s stock.
In terms of insider transactions, Gianluca Pettiti, Executive Vice President, sold 400 shares on February 9, 2024, for a total of $216,480, reducing his position by 1.89%. Following this sale, Pettiti holds 20,752 shares valued at approximately $11.23 million. Similarly, Marc N. Casper, the Chief Executive Officer, sold 5,000 shares on March 4, 2024, generating a total of $2.56 million. Post-transaction, Casper retains 123,925 shares valued at about $63.5 million, reflecting a 3.88% decrease in his holdings.
Analysts remain optimistic about Thermo Fisher’s growth potential. The company’s stock opened at $463.99 on Friday, and it has a market capitalization of $172.36 billion with a price-to-earnings (P/E) ratio of 26.15. Thermo Fisher has experienced fluctuations, with a 52-week low of $385.46 and a high of $643.99.
On January 29, 2024, Thermo Fisher reported quarterly earnings of $6.57 per share, surpassing analysts’ expectations of $6.45 by $0.12. The company achieved $12.22 billion in revenue, exceeding the consensus estimate of $11.95 billion, marking a year-over-year revenue increase of 7.2%. Analysts predict that Thermo Fisher will post earnings of $23.28 per share for the current year.
In addition, Thermo Fisher announced a quarterly dividend of $0.47 per share, to be paid on April 15, 2024. Shareholders on record as of March 13, 2024, will receive this dividend, which represents an annualized yield of 0.4%. This marks an increase from the previous quarterly dividend of $0.43 and reflects a payout ratio of 9.70%.
Thermo Fisher Scientific Inc. is a global leader in providing scientific instrumentation, reagents, consumables, and services to various laboratories. The company’s offerings include analytical instruments, laboratory equipment, life sciences reagents, and software solutions designed to optimize complex workflows across research, clinical, and industrial settings.
