Bank of Montreal Can Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bank of Montreal Can trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 684,661 shares of the medical research company's stock after selling 84,016 shares during the period. Bank of Montreal Can owned approximately 0.18% of Thermo Fisher Scientific worth $356,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMO. Geode Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after purchasing an additional 127,564 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company's stock worth $5,972,000 after buying an additional 995 shares in the last quarter. Greenwood Gearhart Inc. increased its stake in Thermo Fisher Scientific by 9.8% in the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company's stock valued at $12,730,000 after purchasing an additional 1,837 shares in the last quarter. Nordea Investment Management AB raised its stake in Thermo Fisher Scientific by 23.6% during the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock worth $28,868,000 after buying an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC grew its position in Thermo Fisher Scientific by 6.2% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company's stock valued at $5,528,000 after purchasing an additional 618 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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Thermo Fisher Scientific Stock Up 2.4 %

Shares of TMO traded up $10.47 during trading hours on Friday, hitting $437.91. The company had a trading volume of 2,656,544 shares, compared to its average volume of 1,696,843. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $165.21 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The company's fifty day moving average price is $510.56 and its two-hundred day moving average price is $539.34. Thermo Fisher Scientific Inc. has a one year low of $409.85 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, equities 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio is 10.41%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company's stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction dated 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 directly owns 10,816 shares in the company, valued at $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on TMO shares. Citigroup cut their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a research report on Friday, January 10th. Scotiabank increased their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average price target of $647.43.

About Thermo Fisher Scientific

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.