Addenda Capital Inc. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 6.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 43,874 shares of the medical research company’s stock after purchasing an additional 2,846 shares during the period. Thermo Fisher Scientific makes up 1.1% of Addenda Capital Inc.’s portfolio, making the stock its 26th biggest position. Addenda Capital Inc.’s holdings in Thermo Fisher Scientific were worth $25,925,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Widmann Financial Services Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $26,000. Mystic Asset Management Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $29,000. Lee Financial Co bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $32,000. Costello Asset Management INC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $33,000. Finally, Sumitomo Mitsui Financial Group Inc. lifted its position in Thermo Fisher Scientific by 141.7% during the 4th quarter. Sumitomo Mitsui Financial Group Inc. now owns 58 shares of the medical research company’s stock worth $38,000 after buying an additional 34 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Wells Fargo & Company downgraded shares of Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $605.00 to $525.00 in a research report on Monday, April 25th. StockNews.com assumed coverage on shares of Thermo Fisher Scientific in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $658.92.
Thermo Fisher Scientific (NYSE:TMO – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical research company reported $7.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $1.08. The business had revenue of $11.82 billion for the quarter, compared to the consensus estimate of $10.66 billion. Thermo Fisher Scientific had a net margin of 18.49% and a return on equity of 25.33%. Thermo Fisher Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company posted $7.21 EPS. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 22.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.23%. Thermo Fisher Scientific’s payout ratio is 6.26%.
In other news, CEO Marc N. Casper sold 2,181 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $562.46, for a total transaction of $1,226,725.26. Following the completion of the transaction, the chief executive officer now directly owns 183,373 shares of the company’s stock, valued at approximately $103,139,977.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michel Lagarde sold 13,030 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $565.04, for a total transaction of $7,362,471.20. Following the transaction, the chief operating officer now directly owns 15,758 shares of the company’s stock, valued at $8,903,900.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,561 shares of company stock valued at $23,557,413. 0.43% of the stock is owned by company insiders.
Thermo Fisher Scientific Profile (Get Rating)
Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
- Get a free copy of the StockNews.com research report on Thermo Fisher Scientific (TMO)
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