Cannell & Spears LLC Decreases Stock Position in Thermo Fisher Scientific Inc. $TMO

Cannell & Spears LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,106 shares of the medical research company’s stock after selling 2,300 shares during the quarter. Cannell & Spears LLC’s holdings in Thermo Fisher Scientific were worth $43,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Chevy Chase Trust Holdings LLC grew its position in shares of Thermo Fisher Scientific by 6.5% in the third quarter. Chevy Chase Trust Holdings LLC now owns 289,769 shares of the medical research company’s stock valued at $140,544,000 after purchasing an additional 17,687 shares during the last quarter. Cinctive Capital Management LP acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $3,365,000. Circle Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 19.3% in the 3rd quarter. Circle Wealth Management LLC now owns 4,534 shares of the medical research company’s stock valued at $2,199,000 after buying an additional 734 shares in the last quarter. Community Bank N.A. grew its holdings in Thermo Fisher Scientific by 3.5% during the 3rd quarter. Community Bank N.A. now owns 5,498 shares of the medical research company’s stock valued at $2,667,000 after buying an additional 186 shares during the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth $461,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMO. UBS Group reaffirmed a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Finally, Citigroup lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Trading Down 2.5%

NYSE TMO opened at $463.99 on Friday. The firm has a market capitalization of $172.36 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company’s 50 day moving average price is $557.83 and its 200 day moving average price is $548.59.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the previous year, the firm earned $6.10 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a $0.47 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Insider Activity

In related news, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.