iA Global Asset Management Inc. Increases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• iA Global Asset Management Inc. increased its holdings in Thermo Fisher Scientific by 21.0%, acquiring an additional 28,081 shares during the first quarter, bringing its total to 161,555 shares.
• Thermo Fisher Scientific recently reported a quarterly earnings per share (EPS) of $5.36, exceeding analysts' expectations of $5.22, and recorded a revenue of $10.86 billion.
• The company announced a quarterly dividend of $0.43 per share, with a payout ratio of 9.95%, to be paid on October 15th to investors of record by September 15th.

iA Global Asset Management Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,555 shares of the medical research company's stock after purchasing an additional 28,081 shares during the quarter. Thermo Fisher Scientific makes up 1.4% of iA Global Asset Management Inc.'s investment portfolio, making the stock its 17th biggest holding. iA Global Asset Management Inc.'s holdings in Thermo Fisher Scientific were worth $80,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after acquiring an additional 988 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after purchasing an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Thermo Fisher Scientific by 0.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock valued at $79,677,000 after purchasing an additional 461 shares during the last quarter. Trek Financial LLC raised its holdings in Thermo Fisher Scientific by 49.4% during the fourth quarter. Trek Financial LLC now owns 1,734 shares of the medical research company's stock worth $902,000 after purchasing an additional 573 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Thermo Fisher Scientific by 35.1% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 150 shares of the medical research company's stock worth $78,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TMO shares. Robert W. Baird lifted their price target on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Finally, HSBC restated a "hold" rating and set a $510.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $6.15 on Thursday, hitting $455.09. 1,490,140 shares of the company's stock were exchanged, compared to its average volume of 3,299,804. The firm has a market cap of $171.85 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 2.40 and a beta of 0.74. The firm's 50-day moving average price is $425.62 and its two-hundred day moving average price is $464.94. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The firm had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter in the prior year, the business posted $5.37 earnings per share. Thermo Fisher Scientific's revenue was up 2.9% compared to the same quarter last year. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.95%.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $454.45, for a total value of $3,635,600.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,340,824.30. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the sale, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,400 shares of company stock valued at $8,345,792. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Company 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.