Mackenzie Financial Corp Acquires 62,790 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Mackenzie Financial Corp increased its stake in Thermo Fisher by 29.4%, buying 62,790 shares to hold 276,545 shares worth about $134.13 million (≈0.07% of the company).
• Other institutions also added to positions—Franklin Resources bought 1,028,125 shares (now 5.93M shares) and VanEck added 337,008 shares—leaving institutional ownership at about 89.23%.
• Analysts are broadly positive with an average rating of "Moderate Buy" and an average target of $633.68, while Thermo Fisher recently beat quarterly EPS/revenue estimates and raised its quarterly dividend to $0.47.

Mackenzie Financial Corp raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 29.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 276,545 shares of the medical research company's stock after buying an additional 62,790 shares during the period. Mackenzie Financial Corp owned about 0.07% of Thermo Fisher Scientific worth $134,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMO. Franklin Resources Inc. raised its stake in shares of Thermo Fisher Scientific by 21.0% in the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock worth $2,874,069,000 after purchasing an additional 1,028,125 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at approximately $232,000. Quadrant Capital Group LLC grew its holdings in Thermo Fisher Scientific by 30.9% during the third quarter. Quadrant Capital Group LLC now owns 14,277 shares of the medical research company's stock worth $6,924,000 after buying an additional 3,369 shares in the last quarter. Van ECK Associates Corp raised its position in Thermo Fisher Scientific by 77.7% in the 3rd quarter. Van ECK Associates Corp now owns 770,774 shares of the medical research company's stock valued at $373,841,000 after buying an additional 337,008 shares during the last quarter. Finally, FourThought Financial Partners LLC lifted its stake in Thermo Fisher Scientific by 0.6% during the 3rd quarter. FourThought Financial Partners LLC now owns 10,212 shares of the medical research company's stock valued at $4,953,000 after acquiring an additional 58 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

TMO has been the subject of several analyst reports. Stifel Nicolaus increased their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a "buy" rating in a report on Friday, January 9th. HSBC raised shares of Thermo Fisher Scientific from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 1st. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. TD Cowen cut their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Finally, Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $633.68.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $495.98 on Thursday. The company has a market capitalization of $184.25 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 2.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a 50-day simple moving average of $562.46 and a 200 day simple moving average of $548.87.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts' consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.95 billion. During the same period in the previous year, the company earned $6.10 earnings per share. The company's quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a $0.47 dividend. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.70%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total value of $2,562,000.00. Following the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. The trade was a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific NYSE: TMO is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.

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