Canada Post Corp Registered Pension Plan Purchases 24,402 Shares of Thermo Fisher Scientific Inc. $TMO

Canada Post Corp Registered Pension Plan raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 248.7% in the 3rd quarter, Holdings Channel reports. The firm owned 34,215 shares of the medical research company’s stock after buying an additional 24,402 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Thermo Fisher Scientific were worth $15,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after purchasing an additional 309,207 shares during the period. Norges Bank bought a new position in Thermo Fisher Scientific in the second quarter valued at approximately $2,264,615,000. Franklin Resources Inc. boosted its holdings in shares of Thermo Fisher Scientific by 11.3% in the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after buying an additional 498,238 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Thermo Fisher Scientific by 54.7% during the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after acquiring an additional 1,262,967 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Thermo Fisher Scientific by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after acquiring an additional 74,971 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Lisa P. Britt sold 1,058 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the transaction, the vice president directly owned 13,087 shares in the company, valued at approximately $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,292 shares of company stock valued at $66,518,754 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TMO shares. Evercore restated an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Citigroup boosted their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Finally, Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $543.46 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The stock has a 50 day moving average of $590.76 and a 200-day moving average of $542.08. 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 company has a market capitalization of $204.18 billion, a P/E ratio of 30.63, a P/E/G ratio of 3.13 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data 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 firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.10 earnings per share. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.