Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 602,729 shares of the medical research company’s stock after selling 18,187 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Thermo Fisher Scientific were worth $328,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $499.75 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. 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 firm has a market cap of $188.53 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 2.99 and a beta of 0.79. The business’s 50 day moving average is $541.60 and its two-hundred day moving average is $552.30.

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 the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.34%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at $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 90 days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. 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, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $653.23.

About Thermo Fisher Scientific

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.