Addenda Capital Inc. Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Addenda Capital Inc. reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,049 shares of the medical research company’s stock after selling 1,314 shares during the quarter. Addenda Capital Inc.’s holdings in Thermo Fisher Scientific were worth $9,987,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $2,909,524,000. Capital World Investors boosted its stake in Thermo Fisher Scientific by 10.0% in the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after buying an additional 1,231,059 shares in the last quarter. Swedbank AB purchased a new stake in Thermo Fisher Scientific in the first quarter worth approximately $705,636,000. Veritas Asset Management LLP boosted its stake in Thermo Fisher Scientific by 70.1% in the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after buying an additional 697,383 shares in the last quarter. Finally, Winslow Capital Management LLC purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth approximately $333,786,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TMO has been the subject of several recent research reports. Raymond James boosted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. HSBC boosted their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Stifel Nicolaus upped their target price on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their target price on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $618.94.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,084 shares of company stock valued at $19,767,092. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $2.23 during trading on Wednesday, hitting $601.98. 1,128,139 shares of the company’s stock traded hands, compared to its average volume of 1,552,292. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $622.30. The stock has a market capitalization of $229.96 billion, a P/E ratio of 38.41, a PEG ratio of 2.77 and a beta of 0.77. The business has a 50-day simple moving average of $569.40 and a 200-day simple moving average of $571.01.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period last year, the firm posted $5.15 earnings per share. Thermo Fisher Scientific’s revenue was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.71 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

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.