Canada Post Corp Registered Pension Plan Has $15.81 Million Holdings in Thermo Fisher Scientific Inc. $TMO

Canada Post Corp Registered Pension Plan raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 248.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 34,215 shares of the medical research company’s stock after purchasing an additional 24,402 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Thermo Fisher Scientific were worth $15,809,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. Vanguard Group Inc. lifted its position in Thermo Fisher Scientific by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after purchasing an additional 309,207 shares during the period. Norges Bank acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $2,264,615,000. Franklin Resources Inc. boosted its position in shares of Thermo Fisher Scientific by 11.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after acquiring an additional 498,238 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Thermo Fisher Scientific by 54.7% in 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 acquiring an additional 1,262,967 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Thermo Fisher Scientific by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after purchasing an additional 74,971 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $543.46 on Friday. The company has a 50 day moving average price of $590.76 and a 200 day moving average price of $542.08. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock has a market capitalization of $204.18 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 3.13 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same period last year, the firm earned $6.10 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has initiated a stock buyback program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TMO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. TD Cowen dropped their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price on the stock. Argus increased their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a research note on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michel Lagarde sold 32,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of the transaction, the chief operating officer owned 65,480 shares in the company, valued at $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 114,292 shares of company stock valued at $66,518,754. 0.33% of the stock is currently owned by company insiders.

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.