Dixon Mitchell Investment Counsel Inc. Raises Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Dixon Mitchell Investment Counsel Inc. raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 39.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,555 shares of the medical research company's stock after acquiring an additional 31,282 shares during the period. Thermo Fisher Scientific makes up approximately 2.7% of Dixon Mitchell Investment Counsel Inc.'s holdings, making the stock its 15th biggest holding. Dixon Mitchell Investment Counsel Inc.'s holdings in Thermo Fisher Scientific were worth $57,558,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. IFG Advisors LLC increased its holdings in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company's stock valued at $329,000 after buying an additional 17 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its stake in Thermo Fisher Scientific by 0.4% during the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company's stock worth $2,720,000 after purchasing an additional 19 shares during the last quarter. Axiom Advisory LLC boosted its holdings in Thermo Fisher Scientific by 1.6% in the third quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company's stock valued at $720,000 after purchasing an additional 19 shares in the last quarter. Angeles Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company's stock worth $2,425,000 after purchasing an additional 19 shares in the last quarter. Finally, Bangor Savings Bank boosted its holdings in shares of Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock valued at $174,000 after buying an additional 19 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Price Performance

TMO stock traded up $10.04 during trading on Thursday, reaching $561.51. 1,834,408 shares of the company were exchanged, compared to its average volume of 2,147,441. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock's 50 day moving average price is $529.69 and its 200 day moving average price is $568.01. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a market cap of $214.78 billion, a P/E ratio of 35.20, a PEG ratio of 3.59 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.69 EPS. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific's dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a "buy" rating and a $680.00 price target for the company. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's 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 $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company's stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by corporate insiders.

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.