Royal Bank of Canada Sells 55,713 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Royal Bank of Canada cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,272,531 shares of the medical research company’s stock after selling 55,713 shares during the quarter. Royal Bank of Canada’s holdings in Thermo Fisher Scientific were worth $1,702,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in TMO. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $3,149,754,000. T. Rowe Price Investment Management Inc. raised its holdings in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock valued at $1,604,338,000 after acquiring an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock valued at $469,889,000 after acquiring an additional 858,193 shares during the period. Proficio Capital Partners LLC raised its holdings in Thermo Fisher Scientific by 68,617.0% in the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock valued at $396,810,000 after acquiring an additional 761,649 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $377,901,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,075 shares of company stock worth $7,305,942. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

TMO has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Robert W. Baird dropped their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Evercore ISI dropped their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Royal Bank of Canada dropped their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Raymond James reiterated an “outperform” rating and issued a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.43.

Thermo Fisher Scientific Trading Down 0.4%

Shares of TMO opened at $404.27 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $390.50 and a 52-week high of $627.88. The business’s fifty day moving average is $455.92 and its 200-day moving average is $511.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm has a market cap of $152.61 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.11 EPS. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.43%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

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.