Thermo Fisher Scientific Inc. $TMO Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 42.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 834,965 shares of the medical research company’s stock after purchasing an additional 249,171 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.22% of Thermo Fisher Scientific worth $404,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TMO. Lombard Odier Asset Management Switzerland SA increased its stake in Thermo Fisher Scientific by 8.4% during the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $5,875,000 after acquiring an additional 1,128 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at $41,393,000. Weaver Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $506,000. VELA Investment Management LLC raised its holdings in Thermo Fisher Scientific by 65.5% in the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after buying an additional 3,683 shares during the period. Finally, NEOS Investment Management LLC lifted its position in Thermo Fisher Scientific by 28.6% in the third quarter. NEOS Investment Management LLC now owns 51,364 shares of the medical research company’s stock valued at $24,913,000 after buying an additional 11,415 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $473.21 on Wednesday. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The stock has a market capitalization of $175.79 billion, a PE ratio of 26.67, a PEG ratio of 2.72 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. The stock has a 50-day simple moving average of $552.08 and a 200-day simple moving average of $548.74.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating 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 firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter last year, the company earned $6.10 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 10.60%.

Insider Buying and Selling at Thermo Fisher Scientific

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Stifel Nicolaus increased their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Company Profile

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.