Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 750,493 shares of the medical research company’s stock after selling 63,924 shares during the quarter. Thermo Fisher Scientific accounts for 0.9% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 26th biggest position. CIBC Private Wealth Group LLC owned 0.19% of Thermo Fisher Scientific worth $342,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Crescent Capital Consulting LLC grew its position in shares of Thermo Fisher Scientific by 2.8% in the first quarter. Crescent Capital Consulting LLC now owns 781 shares of the medical research company’s stock valued at $357,000 after purchasing an additional 21 shares during the last quarter. Patton Albertson Miller Group LLC lifted its stake in shares of Thermo Fisher Scientific by 0.3% in the first quarter. Patton Albertson Miller Group LLC now owns 7,510 shares of the medical research company’s stock valued at $3,427,000 after buying an additional 22 shares during the period. Coastal Investment Advisors Inc. lifted its stake in shares of Thermo Fisher Scientific by 4.4% in the first quarter. Coastal Investment Advisors Inc. now owns 549 shares of the medical research company’s stock valued at $251,000 after buying an additional 23 shares during the period. NEXT Financial Group Inc lifted its stake in shares of Thermo Fisher Scientific by 1.0% in the first quarter. NEXT Financial Group Inc now owns 2,339 shares of the medical research company’s stock valued at $1,068,000 after buying an additional 23 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Thermo Fisher Scientific by 3.5% in the first quarter. TCI Wealth Advisors Inc. now owns 682 shares of the medical research company’s stock valued at $311,000 after buying an additional 23 shares during the period. Institutional investors own 86.03% of the company’s stock.

A number of research analysts have commented on the stock. Barclays assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 8th. They set an “overweight” rating and a $525.00 price target for the company. Evercore ISI raised their price target on shares of Thermo Fisher Scientific from $525.00 to $540.00 and gave the stock an “outperform” rating in a research note on Friday, April 16th. UBS Group cut their price target on shares of Thermo Fisher Scientific from $588.00 to $560.00 and set a “buy” rating for the company in a research note on Monday, March 29th. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $520.00 price target for the company in a research note on Thursday, March 18th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Monday, May 3rd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $534.45.

In other Thermo Fisher Scientific news, EVP Michel Lagarde sold 34,168 shares of Thermo Fisher Scientific stock in a transaction on Friday, May 7th. The shares were sold at an average price of $472.60, for a total transaction of $16,147,796.80. Following the completion of the sale, the executive vice president now owns 52,629 shares of the company’s stock, valued at approximately $24,872,465.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.44% of the stock is currently owned by insiders.

Shares of Thermo Fisher Scientific stock traded down $1.74 during midday trading on Friday, reaching $463.17. The company had a trading volume of 18,216 shares, compared to its average volume of 1,824,052. The company’s fifty day moving average is $467.53. The company has a quick ratio of 1.91, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Thermo Fisher Scientific Inc. has a 1-year low of $330.57 and a 1-year high of $532.57. The firm has a market cap of $182.04 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, April 29th. The medical research company reported $7.21 EPS for the quarter, topping analysts’ consensus estimates of $6.69 by $0.52. Thermo Fisher Scientific had a net margin of 22.08% and a return on equity of 28.95%. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.69 billion. During the same quarter in the previous year, the business earned $2.94 EPS. The business’s quarterly revenue was up 59.0% compared to the same quarter last year. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Tuesday, June 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Monday, June 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 5.32%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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