Cibc World Markets Corp Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cibc World Markets Corp increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMOFree Report) by 45.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 169,719 shares of the medical research company’s stock after purchasing an additional 53,417 shares during the quarter. Cibc World Markets Corp’s holdings in Thermo Fisher Scientific were worth $90,085,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Thermo Fisher Scientific by 0.6% during the third quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock valued at $16,582,503,000 after buying an additional 180,618 shares during the period. Morgan Stanley boosted its stake in Thermo Fisher Scientific by 0.4% during the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock valued at $6,285,838,000 after buying an additional 50,736 shares during the period. Capital Research Global Investors boosted its stake in Thermo Fisher Scientific by 6.9% during the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock valued at $4,240,824,000 after buying an additional 517,137 shares during the period. Norges Bank bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at $2,909,524,000. Finally, Northern Trust Corp lifted its stake in Thermo Fisher Scientific by 2.6% during the third quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company’s stock worth $1,988,856,000 after purchasing an additional 99,377 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. The Goldman Sachs Group lifted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. HSBC boosted their price target on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $607.94.

Check Out Our Latest Stock Analysis on TMO

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,000 shares of company stock worth $18,512,580. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO traded up $4.56 during mid-day trading on Thursday, reaching $579.84. The stock had a trading volume of 1,119,061 shares, compared to its average volume of 1,494,400. The firm has a market cap of $221.34 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.66 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82. The business has a fifty day moving average of $575.14 and a 200 day moving average of $554.02. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

About Thermo Fisher Scientific

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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