National Bank of Canada FI Sells 41,297 Shares of Thermo Fisher Scientific Inc. $TMO

National Bank of Canada FI lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,803 shares of the medical research company’s stock after selling 41,297 shares during the quarter. National Bank of Canada FI owned 0.07% of Thermo Fisher Scientific worth $120,668,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TMO. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after buying an additional 309,207 shares during the period. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 7.4% during the 3rd quarter. Capital World Investors now owns 10,285,145 shares of the medical research company’s stock valued at $4,988,132,000 after acquiring an additional 706,572 shares in the last quarter. Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 21.0% in the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock valued at $2,874,069,000 after acquiring an additional 1,028,125 shares during the period. Norges Bank acquired a new position in Thermo Fisher Scientific in the second quarter worth about $2,264,615,000. Finally, Bank of New York Mellon Corp boosted its holdings in Thermo Fisher Scientific by 54.7% during the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent research reports. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a report on Friday, January 30th. Citigroup upped their price target on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. UBS Group reissued a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Finally, Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $471.12 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The firm has a market cap of $175.01 billion, a P/E ratio of 26.56, a P/E/G 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. The business’s fifty day moving average is $555.03 and its two-hundred day moving average is $548.87.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the previous year, the business posted $6.10 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is a positive change 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 dividend payout ratio (DPR) is currently 10.60%.

Thermo Fisher Scientific 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.