CIBC Asset Management Inc Purchases 6,313 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

CIBC Asset Management Inc increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 245,713 shares of the medical research company’s stock after acquiring an additional 6,313 shares during the quarter. CIBC Asset Management Inc owned about 0.06% of Thermo Fisher Scientific worth $151,914,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TMO. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in Thermo Fisher Scientific by 3.3% during the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,672 shares of the medical research company’s stock worth $1,034,000 after buying an additional 53 shares in the last quarter. Balboa Wealth Partners grew its holdings in shares of Thermo Fisher Scientific by 59.7% during the 3rd quarter. Balboa Wealth Partners now owns 883 shares of the medical research company’s stock worth $546,000 after purchasing an additional 330 shares in the last quarter. Sycomore Asset Management raised its stake in Thermo Fisher Scientific by 71.7% in the third quarter. Sycomore Asset Management now owns 15,389 shares of the medical research company’s stock valued at $9,531,000 after purchasing an additional 6,426 shares in the last quarter. Lifeworks Advisors LLC acquired a new stake in Thermo Fisher Scientific during the third quarter worth about $225,000. Finally, Lummis Asset Management LP raised its position in shares of Thermo Fisher Scientific by 28.4% in the 3rd quarter. Lummis Asset Management LP now owns 3,891 shares of the medical research company’s stock valued at $2,407,000 after buying an additional 861 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada lowered their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Trading Down 1.6 %

NYSE TMO opened at $533.02 on Friday. The stock has a market capitalization of $203.88 billion, a P/E ratio of 33.42, a P/E/G ratio of 3.58 and a beta of 0.79. Thermo Fisher Scientific Inc. has a one year low of $463.99 and a one year high of $627.88. The business has a 50 day simple moving average of $589.87 and a 200 day simple moving average of $583.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.69 earnings per share. Research analysts expect that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

About Thermo Fisher Scientific

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.