Bank of Nova Scotia Decreases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bank of Nova Scotia cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 46.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,585 shares of the medical research company's stock after selling 72,817 shares during the quarter. Bank of Nova Scotia's holdings in Thermo Fisher Scientific were worth $44,004,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is currently owned by company insiders.

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Thermo Fisher Scientific Stock Up 1.9 %

Shares of TMO traded up $8.20 during mid-day trading on Monday, reaching $446.35. The company's stock had a trading volume of 862,468 shares, compared to its average volume of 1,695,769. The company's 50 day moving average is $510.56 and its 200 day moving average is $538.78. The stock has a market cap of $168.39 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific Inc. has a 12-month low of $409.85 and a 12-month high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts' consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 0.39%. Thermo Fisher Scientific's payout ratio is 10.41%.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup cut their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Raymond James reaffirmed an "outperform" rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Barclays cut their target price on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.