CIBC Asset Management Inc Purchases 6,313 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

CIBC Asset Management Inc grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% in the third quarter, Holdings Channel.com reports. The firm owned 245,713 shares of the medical research company’s stock after buying an additional 6,313 shares during the period. CIBC Asset Management Inc’s holdings in Thermo Fisher Scientific were worth $151,914,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Signature Resources Capital Management LLC grew its stake in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its holdings in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Thermo Fisher Scientific during the first quarter valued at about $32,000. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 in the last three months. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Trading Down 1.6 %

NYSE TMO opened at $533.02 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market cap of $203.88 billion, a PE ratio of 33.42, a PEG ratio of 3.58 and a beta of 0.79. The company’s 50-day moving average price is $589.87 and its 200-day moving average price is $583.04. Thermo Fisher Scientific Inc. has a 12 month low of $463.99 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $5.69 earnings per share. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen increased their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

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.