52,093 Shares in Thermo Fisher Scientific Inc. $TMO Acquired by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 52,093 shares of the medical research company’s stock, valued at approximately $25,266,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. JPL Wealth Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the third quarter valued at about $28,000. Highline Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after acquiring an additional 33 shares in the last quarter. Capital A Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $31,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.6%

Shares of NYSE:TMO opened at $464.94 on Thursday. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The company’s fifty day moving average is $549.04 and its two-hundred day moving average is $548.15. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The stock has a market capitalization of $172.72 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.73 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the firm earned $6.10 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is currently 10.60%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMO. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. TD Cowen decreased their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. Barclays upped their target price on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. UBS Group reaffirmed a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Citigroup boosted their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $633.68.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.