Armistice Capital LLC, a global hedge fund focused on the consumer and healthcare sectors, recently reduced its stake in medical research company Thermo Fisher Scientific Inc. (NYSE: TMO) by 44% during the fourth quarter of 2022. The hedge fund was left with 28,000 shares after liquidating 22,000 shares. This had a value of $15,419,000 as of the end of the reporting period.
Thermo Fisher’s CEO, Marc N. Casper, also sold some of his company’s stock, though only a tiny portion of his total holdings. He sold 1,600 shares, keeping another 141,330 shares in his portfolio.
Beststocks.com reports that this has caused some speculation among the investment space, raising questions about what this means for TMO stock as well as broader market trends.
Examining the current movements involving TMO stock may provide insight into how emerging markets are affecting global economies and highlight potential challenges facing investors and consumers who are looking for access to innovative medical products. Even small changes can influence wider financial networks. Natural fluctuations are not always a threat. They can also present opportunities to take action before a mainstream consensus has formed.
What Is Armistice Capital?
Armistice Capital was launched in 2012 by Steve Boyd. It’s a hedge fund focusing on the medical and consumer sectors, and it has the flexibility to invest in multiple market capitalizations and asset classes. It uses in-depth research and data analytics to guide its decisions.
The company, a global, long-short, value-oriented hedge fund, invests primarily in equities and is nimble enough to seek opportunities throughout the capital structure. It maintains significant position and portfolio level hedges in order to reduce the risks associated with both market and basis risks.
Steve Boyd, the founder of Armistice Capital and a managing partner, comes from a background in financial analysis. He was the first analyst at Senator Investment Group in 2008 before founding the current hedge fund in 2012.
About Thermo Fisher Scientific
Thermo Fisher focuses on innovative solutions relevant to the medical industry. It does business under multiple brand names including Thermo Scientific, Applied Biosystems, and Invitrogen. Thermo Scientific is focused on instruments, equipment, software, and services. Applied Biosystems focuses on genomic solutions for use in commercial and clinical research, and Invitrogen covers antibodies, protein purification, gene editing, and cell analysis.
Some of the other brands under Thermo Fisher’s umbrella include Unity Lab Services and Patheon; Unity Lab Services provides training and equipment services for laboratories, and Patheon provides contract development and manufacturing organization and clinical trial services to companies of all sizes.
The company has annual revenue of over $40 billion and states that its mission is to “enable customers to make the world healthier, cleaner, and safer.”