iA Global Asset Management Inc. Has $69.44 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

iA Global Asset Management Inc. grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 133,474 shares of the medical research company’s stock after acquiring an additional 4,393 shares during the quarter. Thermo Fisher Scientific comprises about 1.2% of iA Global Asset Management Inc.’s portfolio, making the stock its 17th biggest holding. iA Global Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $69,437,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its position in shares of Thermo Fisher Scientific by 37.1% during the 4th quarter. Teacher Retirement System of Texas now owns 236,140 shares of the medical research company’s stock valued at $122,847,000 after acquiring an additional 63,911 shares during the period. Algebris UK Ltd bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $878,000. Generali Investments Management Co LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $2,536,000. Vinva Investment Management Ltd lifted its position in shares of Thermo Fisher Scientific by 8.2% during the 4th quarter. Vinva Investment Management Ltd now owns 19,824 shares of the medical research company’s stock valued at $10,285,000 after acquiring an additional 1,502 shares during the period. Finally, Stokes Family Office LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $410,000. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup reduced their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. UBS Group raised their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $653.23.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $518.21 on Thursday. The company has a market capitalization of $195.50 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The business has a 50-day moving average of $547.18 and a 200-day moving average of $557.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.43 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s payout ratio is presently 10.41%.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $13,106,062 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.