Northwest & Ethical Investments L.P. Buys 6,672 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Northwest & Ethical Investments L.P. raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 46.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,092 shares of the medical research company’s stock after purchasing an additional 6,672 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Thermo Fisher Scientific were worth $13,047,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of Thermo Fisher Scientific by 76,051.4% during the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares during the period. FMR LLC increased its holdings in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Thermo Fisher Scientific in the third quarter valued at about $254,412,000. Finally, Point72 Asset Management L.P. boosted its holdings in Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent analyst reports. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Bank of America boosted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Sanford C. Bernstein dropped their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI decreased their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $649.33.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares in the company, valued at $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 in the last quarter. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Price Performance

TMO traded up $8.68 during trading on Thursday, reaching $521.66. 2,914,199 shares of the company traded hands, compared to its average volume of 1,509,342. The firm has a fifty day simple moving average of $569.98 and a 200 day simple moving average of $578.78. Thermo Fisher Scientific Inc. has a 12-month low of $480.57 and a 12-month high of $627.88. The company has a market cap of $199.53 billion, a P/E ratio of 32.71, a PEG ratio of 3.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.69 EPS. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

About Thermo Fisher Scientific

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.