Cannell & Spears LLC Reduces Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cannell & Spears LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,250 shares of the medical research company's stock after selling 15,637 shares during the period. Thermo Fisher Scientific accounts for about 1.0% of Cannell & Spears LLC's investment portfolio, making the stock its 27th largest position. Cannell & Spears LLC's holdings in Thermo Fisher Scientific were worth $49,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of TMO. Vanguard Group Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock worth $17,297,426,000 after purchasing an additional 196,864 shares during the last quarter. State Street Corp increased its stake in Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock worth $10,100,655,000 after acquiring an additional 124,996 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after acquiring an additional 127,564 shares in the last quarter. Norges Bank purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at $3,149,754,000. Finally, Franklin Resources Inc. increased its position in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Scotiabank lifted their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a research note on Monday, February 3rd. Bank of America reduced their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. Citigroup dropped their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $653.23.

Thermo Fisher Scientific Stock Down 3.9 %

NYSE:TMO traded down $19.18 during mid-day trading on Thursday, reaching $469.88. The company's stock had a trading volume of 2,809,924 shares, compared to its average volume of 1,631,015. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $177.27 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The stock has a fifty day moving average of $536.85 and a 200-day moving average of $549.69. Thermo Fisher Scientific Inc. has a 1 year low of $468.39 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued 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%. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.43 dividend. This is a boost 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 0.37%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.41%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the sale, the chief executive officer now owns 115,174 shares of the company's stock, valued at $59,506,950.58. The trade was a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $13,106,062 in the last 90 days. Insiders own 0.34% of the company's stock.

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.