Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lifted by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp has significantly increased its stake in Thermo Fisher Scientific by 368.8%, acquiring an additional 23,600 shares to hold a total of 30,000 shares valued at approximately $14.9 million.
• Thermo Fisher reported earnings of $5.36 per share, exceeding estimates, with revenue of $10.86 billion for the latest quarter, marking a 2.9% increase from the prior year.
• The company has declared a quarterly dividend of $0.43 per share, with an annualized dividend yield of 0.4%, scheduled for payment on October 15th.

Alberta Investment Management Corp boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 368.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,000 shares of the medical research company's stock after purchasing an additional 23,600 shares during the period. Alberta Investment Management Corp's holdings in Thermo Fisher Scientific were worth $14,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $30,000. IMA Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $35,000. Navigoe LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth $37,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 1.1%

Shares of Thermo Fisher Scientific stock opened at $462.74 on Friday. The firm has a market capitalization of $174.68 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. The company's fifty day moving average price is $420.88 and its two-hundred day moving average price is $467.66. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share 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 business had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the firm earned $5.37 EPS. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction dated Friday, July 25th. The shares were 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 of the company's stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TMO. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Evercore ISI reduced 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 note on Tuesday, July 8th. Stifel Nicolaus reduced their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Barclays boosted their target price on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $593.00.

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.

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