Canada Pension Plan Investment Board reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,961 shares of the medical research company's stock after selling 29,554 shares during the period. Canada Pension Plan Investment Board owned 0.16% of Thermo Fisher Scientific worth $319,921,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in TMO. Howard Capital Management Group LLC boosted its position in shares of Thermo Fisher Scientific by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company's stock worth $33,759,000 after acquiring an additional 286 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company's stock worth $771,876,000 after purchasing an additional 225,568 shares during the period. M&T Bank Corp grew its holdings in shares of Thermo Fisher Scientific by 4.2% during the 3rd quarter. M&T Bank Corp now owns 113,347 shares of the medical research company's stock worth $70,113,000 after purchasing an additional 4,584 shares during the period. Virtu Financial LLC purchased a new position in Thermo Fisher Scientific in the third quarter valued at approximately $638,000. Finally, Anchor Investment Management LLC raised its stake in shares of Thermo Fisher Scientific by 1.7% in the 3rd quarter. Anchor Investment Management LLC now owns 11,366 shares of the medical research company's stock valued at $7,031,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.
Analyst Upgrades and Downgrades
TMO has been the subject of a number of recent research reports. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a research note on Friday, January 31st. Barclays dropped their target price on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company reduced their target price on Thermo Fisher Scientific from $680.00 to $580.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Scotiabank boosted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a research report on Monday, February 3rd. Finally, UBS Group lifted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $642.67.
View Our Latest Report on TMO
Thermo Fisher Scientific Price Performance
Shares of NYSE:TMO traded up $14.70 on Tuesday, reaching $436.55. 1,496,906 shares of the company traded hands, compared to its average volume of 2,124,131. 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 Inc. has a fifty-two week low of $409.85 and a fifty-two week high of $627.88. The stock has a market capitalization of $164.79 billion, a PE ratio of 26.41, a P/E/G ratio of 2.99 and a beta of 0.86. The company's 50 day moving average is $495.35 and its 200-day moving average is $531.39.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 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, analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.39%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.41%.
Insider Activity at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is owned by corporate insiders.
Thermo Fisher Scientific Profile
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Free Report)
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.
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