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

Addenda Capital Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 1.1% of Addenda Capital Inc.’s portfolio, making the stock its 26th biggest holding. Addenda Capital Inc.’s holdings in Thermo Fisher Scientific were worth $25,925,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Widmann Financial Services Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $26,000. Mystic Asset Management Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Lee Financial Co purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $32,000. Costello Asset Management INC purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $33,000. Finally, Sumitomo Mitsui Financial Group Inc. raised its stake in shares of Thermo Fisher Scientific by 141.7% in the 4th quarter. Sumitomo Mitsui Financial Group Inc. now owns 58 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 34 shares during the period. 87.48% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company downgraded shares of Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $605.00 to $525.00 in a research note on Monday, April 25th. StockNews.com started coverage on shares of Thermo Fisher Scientific in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $658.92.

Shares of Thermo Fisher Scientific stock traded up $13.50 during trading hours on Thursday, reaching $532.72. The company’s stock had a trading volume of 29,837 shares, compared to its average volume of 1,216,127. The company’s 50 day simple moving average is $544.31 and its 200 day simple moving average is $575.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.56. Thermo Fisher Scientific Inc. has a one year low of $489.14 and a one year high of $672.34. The stock has a market cap of $208.54 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 1.74 and a beta of 0.83.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The medical research company reported $7.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $1.08. The company 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%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the firm posted $7.21 EPS. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 22.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be given a $0.30 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.20 annualized dividend and a yield of 0.23%. Thermo Fisher Scientific’s dividend payout ratio is presently 6.26%.

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 200 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $544.36, for a total transaction of $108,872.00. Following the sale, the director now directly owns 810 shares in the company, valued at approximately $440,931.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 2,181 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $562.46, for a total transaction of $1,226,725.26. Following the sale, the chief executive officer now owns 183,373 shares in the company, valued at $103,139,977.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,561 shares of company stock worth $23,557,413. 0.43% of the stock is currently owned by insiders.

Thermo Fisher Scientific Company 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.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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