Addenda Capital Inc. Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Addenda Capital Inc. lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,315 shares of the medical research company’s stock after buying an additional 1,279 shares during the quarter. Addenda Capital Inc.’s holdings in Thermo Fisher Scientific were worth $10,055,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $27,000. Decker Retirement Planning Inc. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth $43,000. HWG Holdings LP acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth about $50,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Thermo Fisher Scientific during the third quarter worth approximately $50,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

TMO stock opened at $559.72 on Tuesday. The company has a market cap of $214.09 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.71 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $529.96 and a 200-day moving average of $568.56. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 earnings per share. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TMO. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a research report on Friday, January 10th. Evercore ISI cut their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada lowered their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus lowered their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley decreased their target price on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific 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.