Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,039 shares of the medical research company’s stock after selling 237 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Thermo Fisher Scientific were worth $19,789,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Thermo Fisher Scientific by 11.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock worth $5,972,000 after purchasing an additional 995 shares during the last quarter. Greenwood Gearhart Inc. grew its stake in shares of Thermo Fisher Scientific by 9.8% in the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after purchasing an additional 1,837 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after buying an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its holdings in shares of Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock worth $5,528,000 after buying an additional 618 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the business’s stock in a transaction on 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Down 0.8 %

NYSE:TMO opened at $508.62 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The firm has a market cap of $191.88 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.99 and a beta of 0.79. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $548.72 and its 200-day moving average is $560.10.

Thermo Fisher Scientific (NYSE:TMO) last released 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 net margin of 14.78% and a return on equity of 17.51%. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.34%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is 10.41%.

Wall Street Analyst Weigh In

Several brokerages have commented on TMO. Scotiabank raised their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Citigroup decreased their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Bank of America decreased their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, UBS Group raised their price target 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. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $653.23.

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.