Canoe Financial LP Decreases Position in Thermo Fisher Scientific Inc. $TMO

Canoe Financial LP decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 91.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 732 shares of the medical research company’s stock after selling 8,268 shares during the period. Canoe Financial LP’s holdings in Thermo Fisher Scientific were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Petros Family Wealth LLC grew its stake in shares of Thermo Fisher Scientific by 3.9% in the fourth quarter. Petros Family Wealth LLC now owns 456 shares of the medical research company’s stock worth $264,000 after acquiring an additional 17 shares during the period. Financial Management Network Inc. boosted its stake in shares of Thermo Fisher Scientific by 3.7% in the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after buying an additional 18 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in Thermo Fisher Scientific by 1.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,256 shares of the medical research company’s stock worth $728,000 after purchasing an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock valued at $114,000 after purchasing an additional 19 shares during the last quarter. Finally, White Pine Capital LLC lifted its stake in shares of Thermo Fisher Scientific by 3.2% in the 3rd quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock worth $296,000 after purchasing an additional 19 shares during the period. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TMO shares. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Citigroup raised 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. Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research note on Sunday, December 7th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $632.50.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. This represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction on Monday, February 9th. The stock was 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 position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $473.83 on Friday. The firm’s fifty day moving average is $530.10 and its two-hundred day moving average is $547.79. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a market cap of $176.02 billion, a P/E ratio of 26.71, a P/E/G ratio of 2.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last issued 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. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.10 earnings per share. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Thermo Fisher Scientific Company Profile

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.