EdgePoint Investment Group Inc. Has $673.53 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

EdgePoint Investment Group Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,388,662 shares of the medical research company’s stock after acquiring an additional 65,597 shares during the quarter. Thermo Fisher Scientific comprises about 5.0% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 10th biggest position. EdgePoint Investment Group Inc. owned 0.37% of Thermo Fisher Scientific worth $673,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Financial Management Network Inc. increased its position in shares of Thermo Fisher Scientific by 3.7% during the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after purchasing an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in Thermo Fisher Scientific by 8.8% in the third quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after buying an additional 19 shares during the last quarter. White Pine Capital LLC increased its position in Thermo Fisher Scientific by 3.2% during the third quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock valued at $296,000 after acquiring an additional 19 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 20 shares during the period. Finally, Hopwood Financial Services Inc. lifted its holdings in shares of Thermo Fisher Scientific by 9.1% in the 3rd quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock worth $116,000 after acquiring an additional 20 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Down 2.5%

NYSE:TMO opened at $463.99 on Friday. The company’s 50 day moving average is $557.83 and its two-hundred day moving average is $548.59. The company has a market cap of $172.36 billion, a PE ratio of 26.15, a P/E/G ratio of 2.68 and a beta of 0.96. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.10 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a $0.47 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group reaffirmed a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. TD Cowen decreased their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Evercore reissued an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research note on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total value of $2,562,000.00. Following the sale, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by company insiders.

About Thermo Fisher Scientific

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.