CIBC Private Wealth Group LLC Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

CIBC Private Wealth Group LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 602,729 shares of the medical research company’s stock after selling 18,187 shares during the period. CIBC Private Wealth Group LLC owned about 0.16% of Thermo Fisher Scientific worth $328,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after buying an additional 196,864 shares during the period. State Street Corp increased its stake in Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares during the period. Geode Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Norges Bank acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $3,149,754,000. Finally, Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after buying an additional 262,062 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TMO. Bank of America dropped their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company boosted their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Citigroup dropped their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $653.23.

Insider Activity

In other news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,900 shares of company stock worth $13,106,062. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $499.75 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $541.60 and a 200 day moving average price of $552.30. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market cap of $188.53 billion, a P/E ratio of 30.23, a PEG ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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%. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

Thermo Fisher Scientific 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.