CIBC Asset Management Inc Has $120.97 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

CIBC Asset Management Inc lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 232,610 shares of the medical research company's stock after selling 13,103 shares during the period. CIBC Asset Management Inc owned 0.06% of Thermo Fisher Scientific worth $120,965,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $27,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $28,000. Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $29,000. Finally, Endeavor Private Wealth Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Up 1.4 %

Shares of TMO traded up $7.17 during mid-day trading on Thursday, hitting $538.03. 1,967,770 shares of the company's stock were exchanged, compared to its average volume of 2,101,941. The firm has a fifty day moving average of $548.10 and a two-hundred day moving average of $568.36. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The stock has a market cap of $205.80 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 2.91 and a beta of 0.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping 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%. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio is currently 9.44%.

Insider Buying and Selling

In other Thermo Fisher Scientific 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 value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares of the company's stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,125 shares of company stock valued at $11,231,699. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. 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 for the company in a research note on Friday, January 10th. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Bank of America cut their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating for the company in a research note on Friday, December 13th. Finally, Raymond James restated an "outperform" rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus target price of $658.00.

Thermo Fisher Scientific Profile

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.