Cibc World Markets Corp Purchases 43,169 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cibc World Markets Corp lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 83.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 94,988 shares of the medical research company’s stock after purchasing an additional 43,169 shares during the quarter. Cibc World Markets Corp’s holdings in Thermo Fisher Scientific were worth $49,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. bought a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Finally, Pillar Financial Advisors LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $13,106,062 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Scotiabank lifted their price objective on shares of 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 shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $653.23.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $523.44 on Monday. 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 one year low of $493.30 and a one year high of $627.88. The company has a market cap of $197.47 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.99 and a beta of 0.79. The firm has a 50 day simple moving average of $548.54 and a 200 day simple moving average of $558.79.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

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.