Dixon Mitchell Investment Counsel Inc. Purchases 1,385 Shares of Thermo Fisher Scientific Inc. $TMO

Dixon Mitchell Investment Counsel Inc. increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the third quarter, Holdings Channel.com reports. The fund owned 211,097 shares of the medical research company’s stock after acquiring an additional 1,385 shares during the quarter. Thermo Fisher Scientific accounts for approximately 3.6% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 10th largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Thermo Fisher Scientific were worth $102,507,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth $807,713,000. Bank of New York Mellon Corp lifted 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 valued at $1,732,422,000 after purchasing an additional 1,262,967 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Thermo Fisher Scientific by 282.5% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after purchasing an additional 977,127 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Thermo Fisher Scientific by 58.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,293,264 shares of the medical research company’s stock worth $929,828,000 after purchasing an additional 843,267 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TMO shares. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Stifel Nicolaus upped their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. TD Cowen cut their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $615.00 target price on shares of Thermo Fisher Scientific in a research report 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 stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the business’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 completion of the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. The trade was a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.7%

NYSE TMO opened at $510.28 on Tuesday. The firm’s fifty day simple moving average is $565.80 and its 200-day simple moving average is $549.24. 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 Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The company has a market capitalization of $189.56 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share 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 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%.The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $6.10 EPS. As a group, 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 firm also recently disclosed 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 represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.70%.

Thermo Fisher Scientific Company 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.