Canada Pension Plan Investment Board acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 614,218 shares of the medical research company’s stock, valued at approximately $307,944,000.
Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $170,000. Raymond James Financial Inc. lifted its holdings in Thermo Fisher Scientific by 7.4% during the 2nd quarter. Raymond James Financial Inc. now owns 778,822 shares of the medical research company’s stock worth $315,781,000 after purchasing an additional 53,542 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Thermo Fisher Scientific by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 602,031 shares of the medical research company’s stock valued at $244,099,000 after purchasing an additional 2,262 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.
Thermo Fisher Scientific Stock Performance
TMO opened at $627.96 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55. Thermo Fisher Scientific Inc. has a 52-week low of $435.27 and a 52-week high of $647.00. The firm has a market cap of $232.19 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.56 and a beta of 0.85. The business’s fifty day moving average is $548.75 and its 200-day moving average is $510.05.
Thermo Fisher Scientific Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is 10.11%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on TMO. Evercore set a $570.00 price objective on Thermo Fisher Scientific in a research report on Monday, July 6th. HSBC downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and decreased their price target for the company from $670.00 to $540.00 in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Piper Sandler boosted their price objective on shares of Thermo Fisher Scientific from $510.00 to $600.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Sanford C. Bernstein assumed coverage on shares of Thermo Fisher Scientific in a report on Friday, June 26th. They set a “market perform” rating and a $520.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.41.
Read Our Latest Analysis on TMO
Insider Buying and Selling at Thermo Fisher Scientific
In related news, VP Lisa P. Britt sold 11,440 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total value of $7,014,092.80. Following the transaction, the vice president directly owned 14,784 shares of the company’s stock, valued at $9,064,366.08. This trade represents a 43.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Joseph R. Holmes sold 420 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $584.81, for a total transaction of $245,620.20. Following the transaction, the chief accounting officer owned 2,966 shares of the company’s stock, valued at approximately $1,734,546.46. This represents a 12.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 73,493 shares of company stock worth $43,950,381 in the last three months. Company insiders own 0.33% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
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