CIBC Asset Management Inc Lowers Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

CIBC Asset Management Inc trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,400 shares of the medical research company’s stock after selling 8,582 shares during the quarter. CIBC Asset Management Inc owned approximately 0.06% of Thermo Fisher Scientific worth $132,388,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific during the first quarter valued at about $31,000. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Northwest Financial Advisors purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. Finally, Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded up $3.39 during trading hours on Monday, hitting $615.07. The stock had a trading volume of 1,058,900 shares, compared to its average volume of 1,507,780. The firm has a market capitalization of $234.78 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 2.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The firm has a 50-day moving average price of $578.71 and a 200 day moving average price of $576.22. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.15 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the transaction, the vice president now owns 13,699 shares in the company, valued at $8,397,760.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

TMO has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group restated a “buy” rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Royal Bank of Canada boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Raymond James lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus raised their target price on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $630.41.

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.