Intact Investment Management Inc. Acquires 660 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Intact Investment Management Inc. increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 34.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the medical research company’s stock after acquiring an additional 660 shares during the quarter. Intact Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. FMR LLC increased its stake in Thermo Fisher Scientific by 19.7% during 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 purchasing an additional 1,294,453 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Thermo Fisher Scientific by 68,617.0% during the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock valued at $396,810,000 after purchasing an additional 761,649 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at about $377,901,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Thermo Fisher Scientific during the 3rd quarter valued at about $254,412,000. Finally, Lindsell Train Ltd bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at about $211,858,000. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the sale, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $13,106,062 over the last quarter. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. UBS Group raised their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company raised their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup dropped their price target on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley raised their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $653.23.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $523.44 on Friday. The stock has a market cap of $197.47 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.99 and a beta of 0.79. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company’s 50 day moving average is $548.54 and its two-hundred day moving average is $559.53.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

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.