CIBC World Markets Inc. grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 84.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,666 shares of the medical research company’s stock after purchasing an additional 7,615 shares during the period. CIBC World Markets Inc.’s holdings in Thermo Fisher Scientific were worth $3,452,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. DnB Asset Management AS acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth $20,196,000. Campbell & CO Investment Adviser LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth $284,000. Rockefeller Capital Management L.P. boosted its stake in Thermo Fisher Scientific by 1.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 19,770 shares of the medical research company’s stock worth $4,095,000 after purchasing an additional 375 shares during the period. Welch & Forbes LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth $9,933,000. Finally, Providence Capital Advisors LLC boosted its stake in Thermo Fisher Scientific by 4.1% during the 1st quarter. Providence Capital Advisors LLC now owns 8,647 shares of the medical research company’s stock worth $1,785,000 after purchasing an additional 338 shares during the period. Hedge funds and other institutional investors own 85.61% of the company’s stock.
A number of brokerages recently weighed in on TMO. Leerink Swann increased their price target on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $261.00 price target for the company in a research note on Monday, August 6th. ValuEngine upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $216.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, April 26th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $300.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $239.08.
Shares of Thermo Fisher Scientific stock opened at $231.43 on Wednesday. The firm has a market cap of $92.64 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.68 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.58 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a one year low of $174.16 and a one year high of $236.29.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.75 EPS for the quarter, topping the Zacks’ consensus estimate of $2.63 by $0.12. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.90 billion. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. Thermo Fisher Scientific’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 EPS. equities research analysts forecast that Thermo Fisher Scientific Inc. will post 10.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 17th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is currently 7.17%.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $217.71, for a total transaction of $10,885,500.00. Following the completion of the transaction, the chief executive officer now owns 272,122 shares in the company, valued at approximately $59,243,680.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick M. Durbin sold 20,550 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $233.87, for a total transaction of $4,806,028.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,050 shares of company stock valued at $37,585,029. 0.49% of the stock is owned by insiders.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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