EdgePoint Investment Group Inc. Buys 65,597 Shares of Thermo Fisher Scientific Inc. $TMO

EdgePoint Investment Group Inc. increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,388,662 shares of the medical research company’s stock after purchasing an additional 65,597 shares during the period. Thermo Fisher Scientific accounts for approximately 5.0% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 10th biggest position. EdgePoint Investment Group Inc.’s holdings in Thermo Fisher Scientific were worth $673,529,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TMO. Highline Wealth Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Capital A Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after buying an additional 66 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Thermo Fisher Scientific during the 3rd quarter valued at about $31,000. Howard Hughes Medical Institute purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. Finally, Elevation Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after buying an additional 20 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 2.5%

NYSE:TMO opened at $463.99 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The firm has a market cap of $172.36 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average price of $557.83 and a 200 day moving average price of $548.59.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.10 EPS. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a $0.47 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the transaction, the chief executive officer owned 123,925 shares in the company, valued at approximately $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group restated a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Evercore reiterated an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Profile

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.