Dixon Mitchell Investment Counsel Inc. Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Dixon Mitchell Investment Counsel Inc. lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,628 shares of the medical research company’s stock after selling 491 shares during the quarter. Thermo Fisher Scientific accounts for approximately 2.7% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 15th biggest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Thermo Fisher Scientific were worth $53,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WCM Investment Management LLC raised its holdings in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock worth $527,524,000 after purchasing an additional 2,928 shares during the period. Summa Corp. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $418,000. Phoenix Holdings Ltd. increased its holdings in Thermo Fisher Scientific by 21.4% in the 3rd quarter. Phoenix Holdings Ltd. now owns 9,366 shares of the medical research company’s stock worth $4,750,000 after acquiring an additional 1,654 shares during the last quarter. S. R. Schill & Associates lifted its holdings in Thermo Fisher Scientific by 106.3% during the fourth quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock valued at $816,000 after purchasing an additional 792 shares during the last quarter. Finally, Tsfg LLC raised its position in shares of Thermo Fisher Scientific by 8.3% in the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of a number of analyst reports. Barclays lowered their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday. The Goldman Sachs Group increased their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. HSBC lifted their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective for the company. Finally, Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $606.47.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO traded down $7.79 during trading hours on Tuesday, reaching $533.93. 1,315,042 shares of the stock traded hands, compared to its average volume of 1,549,184. The company has a market capitalization of $203.81 billion, a P/E ratio of 34.32, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77. The company’s 50-day simple moving average is $574.71 and its two-hundred day simple moving average is $563.50. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.39 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $70,873,516.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock worth $12,532,780 in the last three months. 0.34% of the stock is owned by insiders.

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.