Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 116.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,068 shares of the medical research company’s stock after acquiring an additional 184,797 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.09% of Thermo Fisher Scientific worth $212,830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Fred Alger Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $1,274,000. Skye Global Management LP raised its stake in shares of Thermo Fisher Scientific by 9.1% during the 3rd quarter. Skye Global Management LP now owns 60,000 shares of the medical research company’s stock worth $37,114,000 after buying an additional 5,000 shares during the period. Rockefeller Capital Management L.P. grew its stake in Thermo Fisher Scientific by 0.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 244,851 shares of the medical research company’s stock valued at $151,432,000 after acquiring an additional 1,966 shares during the period. Martingale Asset Management L P increased its holdings in Thermo Fisher Scientific by 654.5% in the 3rd quarter. Martingale Asset Management L P now owns 8,382 shares of the medical research company’s stock worth $5,185,000 after acquiring an additional 7,271 shares in the last quarter. Finally, Isthmus Partners LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $353,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $529.63 on Friday. The firm has a fifty day moving average price of $566.33 and a 200 day moving average price of $577.96. The stock has a market cap of $202.58 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $487.06 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping 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. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.69 earnings per share. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific announced that its board has approved a stock repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Royal Bank of Canada lowered their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Finally, Sanford C. Bernstein cut their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

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.