Bank of Montreal Can Has $247.14 Million Position in Thermo Fisher Scientific Inc. $TMO

Bank of Montreal Can lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 509,541 shares of the medical research company’s stock after selling 49,308 shares during the period. Bank of Montreal Can owned approximately 0.14% of Thermo Fisher Scientific worth $247,138,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Legal & General Group Plc increased its position in shares of Thermo Fisher Scientific by 5.3% during the 3rd quarter. Legal & General Group Plc now owns 2,462,988 shares of the medical research company’s stock worth $1,194,598,000 after purchasing an additional 124,432 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in Thermo Fisher Scientific by 0.5% during the third quarter. Banque Cantonale Vaudoise now owns 7,127 shares of the medical research company’s stock worth $3,457,000 after buying an additional 36 shares during the last quarter. Fieldview Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the third quarter worth approximately $5,091,000. WINTON GROUP Ltd raised its stake in shares of Thermo Fisher Scientific by 82.7% in the third quarter. WINTON GROUP Ltd now owns 29,800 shares of the medical research company’s stock valued at $14,454,000 after acquiring an additional 13,486 shares during the last quarter. Finally, Navalign LLC grew its position in Thermo Fisher Scientific by 2.5% during the 3rd quarter. Navalign LLC now owns 2,217 shares of the medical research company’s stock worth $1,075,000 after acquiring an additional 54 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. Evercore reiterated an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price for the company. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Citigroup boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research note on Sunday, December 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Insider Activity

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

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $500.14 on Wednesday. The stock has a market capitalization of $185.79 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.94 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The business has a 50-day moving average price of $564.13 and a two-hundred day moving average price of $549.24.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate 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 company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the previous year, the company earned $6.10 EPS. Thermo Fisher Scientific’s revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a $0.47 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.70%.

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.