Intact Investment Management Inc. Sells 2,770 Shares of Thermo Fisher Scientific Inc. $TMO

Intact Investment Management Inc. decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 86.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 430 shares of the medical research company’s stock after selling 2,770 shares during the quarter. Intact Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TMO. Brighton Jones LLC lifted its position in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after buying an additional 988 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares in the last quarter. Patton Fund Management Inc. bought a new stake in Thermo Fisher Scientific during the second quarter worth about $210,000. Avior Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 24.5% in the second quarter. Avior Wealth Management LLC now owns 4,096 shares of the medical research company’s stock worth $1,661,000 after purchasing an additional 806 shares during the period. Finally, Independence Bank of Kentucky increased its stake in shares of Thermo Fisher Scientific by 25.5% during the second quarter. Independence Bank of Kentucky now owns 3,824 shares of the medical research company’s stock valued at $1,550,000 after purchasing an additional 777 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.1%

TMO stock opened at $626.82 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. The company has a market cap of $235.50 billion, a price-to-earnings ratio of 36.21, a P/E/G ratio of 4.11 and a beta of 0.91. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The business’s 50-day moving average is $592.07 and its two-hundred day moving average is $533.76.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s payout ratio is 9.94%.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TMO shares. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Friday. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target for the company in a report on Sunday, December 7th. Wells Fargo & Company upped their price target on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $625.47.

Insider Transactions at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 32,000 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the sale, the chief operating officer owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 10,225 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $571.62, for a total value of $5,844,814.50. Following the sale, the vice president directly owned 14,145 shares of the company’s stock, valued at $8,085,564.90. This represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 124,517 shares of company stock valued at $72,363,568 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.