Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 245,713 shares of the medical research company's stock after buying an additional 6,313 shares during the period. CIBC Asset Management Inc owned 0.06% of Thermo Fisher Scientific worth $151,914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TMO. Headlands Technologies LLC bought a new stake in shares of Thermo Fisher Scientific during the first quarter valued at approximately $32,000. M&G Plc bought a new position in shares of Thermo Fisher Scientific during the first quarter valued at $90,951,000. Nicolet Advisory Services LLC boosted its position in shares of Thermo Fisher Scientific by 4.1% during the first quarter. Nicolet Advisory Services LLC now owns 2,230 shares of the medical research company's stock valued at $1,314,000 after buying an additional 88 shares during the last quarter. Cooper Haims Advisors LLC purchased a new position in Thermo Fisher Scientific in the 1st quarter worth about $202,000. Finally, Spirepoint Private Client LLC purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at about $5,409,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TMO shares. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a "buy" rating and a $680.00 price target for the company. Stifel Nicolaus reduced their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average target price of $649.33.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now owns 121,192 shares of the company's stock, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,150 shares of company stock worth $20,651,865. Company insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $18.40 on Friday, reaching $514.62. 2,412,660 shares of the stock were exchanged, compared to its average volume of 1,466,909. Thermo Fisher Scientific Inc. has a twelve month low of $464.17 and a twelve month high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $196.84 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 3.58 and a beta of 0.79. The business has a 50 day moving average price of $588.39 and a two-hundred day moving average price of $582.69.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company earned $5.69 earnings per share. Thermo Fisher Scientific's quarterly revenue was up .2% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific's dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific Company 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.