BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 65,036 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 73.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,112 shares of the medical research company’s stock after acquiring an additional 65,036 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Thermo Fisher Scientific were worth $85,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TMO. Accretive Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 8.1% during the fourth quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock worth $340,000 after acquiring an additional 48 shares in the last quarter. Aveo Capital Partners LLC boosted its stake 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 valued at $433,000 after purchasing an additional 72 shares during the period. Gryphon Financial Partners LLC lifted its stake in Thermo Fisher Scientific by 8.5% during the fourth 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 last quarter. TrinityPoint Wealth LLC increased its position in Thermo Fisher Scientific by 4.2% during 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 in the last quarter. Finally, Cape Investment Advisory Inc. grew its position in Thermo Fisher Scientific by 52.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TMO shares. Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday. Evercore ISI cut their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. 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 data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $647.78.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $610.35 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The company’s fifty day moving average price is $600.88 and its 200 day moving average price is $581.47. The company has a market capitalization of $232.98 billion, a PE ratio of 39.15, a price-to-earnings-growth 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. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $5.15 EPS. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

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.