Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 73.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,112 shares of the medical research company's stock after purchasing an additional 65,036 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Thermo Fisher Scientific were worth $85,224,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Signature Resources Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock worth $25,000 after buying an additional 35 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company's stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth about $29,000. Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock valued at $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $31,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TMO shares. Bank of America boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Evercore ISI lowered their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 2nd. UBS Group raised Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. TD Cowen lifted their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an "overweight" rating and a $670.00 target price for the company. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and a consensus target price of $647.78.

Thermo Fisher Scientific Stock Performance

TMO traded down $0.57 during trading on Tuesday, hitting $609.78. 522,242 shares of the stock were exchanged, compared to its average volume of 1,489,188. The firm has a market capitalization of $232.76 billion, a P/E ratio of 39.15, a PEG ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The stock has a fifty day moving average price of $600.88 and a two-hundred day moving average price of $581.47. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts' consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.50 billion. During the same quarter in the prior year, the business earned $5.15 EPS. Thermo Fisher Scientific's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific's dividend payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company's stock, valued at approximately $10,747,403.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company's stock, valued at approximately $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last 90 days. Company insiders own 0.34% of the company's stock.

Thermo Fisher Scientific 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.