CIBC Private Wealth Group LLC Decreases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

CIBC Private Wealth Group LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 602,729 shares of the medical research company's stock after selling 18,187 shares during the period. CIBC Private Wealth Group LLC owned about 0.16% of Thermo Fisher Scientific worth $328,445,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TMO. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter worth approximately $26,000. Barrett & Company Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $28,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Finally, Pillar Financial Advisors LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company's stock, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. StockNews.com raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th. Scotiabank boosted their price target on 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. UBS Group lifted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, 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 report on Friday, January 10th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average price target of $653.23.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $15.09 during midday trading on Tuesday, hitting $482.51. The company's stock had a trading volume of 1,837,520 shares, compared to its average volume of 1,623,572. 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 $481.47 and a fifty-two week high of $627.88. The firm's 50 day moving average is $540.37 and its 200-day moving average is $551.02. The firm has a market cap of $182.03 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.36%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.41%.

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.