Canada Pension Plan Investment Board Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Canada Pension Plan Investment Board grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 669,870 shares of the medical research company’s stock after buying an additional 106,767 shares during the quarter. Canada Pension Plan Investment Board owned 0.18% of Thermo Fisher Scientific worth $370,438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TMO. Accretive Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 8.1% during the 4th quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock valued at $340,000 after buying an additional 48 shares in the last quarter. Aveo Capital Partners LLC raised its position in Thermo Fisher Scientific by 9.7% in the 4th quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock worth $433,000 after purchasing an additional 72 shares during the period. Gryphon Financial Partners LLC raised its position in Thermo Fisher Scientific by 8.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock worth $794,000 after purchasing an additional 116 shares during the period. TrinityPoint Wealth LLC raised its position in Thermo Fisher Scientific by 4.2% in the 4th quarter. TrinityPoint Wealth LLC now owns 4,080 shares of the medical research company’s stock worth $2,166,000 after purchasing an additional 164 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.7 %

NYSE:TMO opened at $620.26 on Friday. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The company’s 50-day simple moving average is $598.25 and its 200 day simple moving average is $581.25. The firm has a market capitalization of $236.94 billion, a P/E ratio of 39.79, a PEG ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate 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 business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the previous year, the firm posted $5.15 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday. Barclays decreased their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday. Finally, Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $632.89.

Thermo Fisher Scientific 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.