Scotia Capital Inc. Purchases 23,955 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Scotia Capital Inc. increased its position in Thermo Fisher Scientific by 37.7%, acquiring an additional 23,955 shares, bringing their total holdings to 87,540 shares worth approximately $43.56 million.
• Significant investor activity includes GAMMA Investing LLC boosting its holdings by over 60,610.9%, while T. Rowe Price increased its stake by 86.9% during the recent quarters.
• Recent earnings report indicated $5.36 EPS, exceeding estimates, with revenue of $10.86 billion, reflecting a 2.9% year-over-year growth.

Scotia Capital Inc. increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 37.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,540 shares of the medical research company's stock after buying an additional 23,955 shares during the period. Scotia Capital Inc.'s holdings in Thermo Fisher Scientific were worth $43,560,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TMO. GAMMA Investing LLC boosted its holdings in shares of Thermo Fisher Scientific by 60,610.9% during the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after buying an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after buying an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after buying an additional 858,193 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Thermo Fisher Scientific by 140.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock worth $569,062,000 after buying an additional 639,467 shares during the period. Finally, Farallon Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 73.8% in the 4th quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock valued at $641,577,000 after purchasing an additional 523,800 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on TMO. UBS Group increased their price target on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price for the company in a research report on Friday, July 11th. HSBC restated a "hold" rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Finally, Barclays raised their price objective on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $593.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $462.74 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average price is $420.88 and its two-hundred day moving average price is $467.07. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The firm has a market capitalization of $174.68 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results 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 net margin of 15.24% and a return on equity of 16.82%. The firm had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the firm posted $5.37 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 9.95%.

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.

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