CIBC Asset Management Inc Purchases 7,822 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• CIBC Asset Management increased its stake in Thermo Fisher Scientific by 3.5% in the fourth quarter, buying 7,822 additional shares and bringing its total holding to 233,593 shares worth about $135.3 million.
• Institutional ownership remains very high, with several other large investors also adding to their positions; overall, 89.23% of TMO shares are owned by institutions.
• Thermo Fisher reported strong quarterly results, beating EPS and revenue estimates, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $612.24.

CIBC Asset Management Inc lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,593 shares of the medical research company's stock after purchasing an additional 7,822 shares during the quarter. CIBC Asset Management Inc owned 0.06% of Thermo Fisher Scientific worth $135,341,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TMO. Norges Bank bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $3,072,744,000. Wellington Management Group LLP increased its position in shares of Thermo Fisher Scientific by 88.9% in the third quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company's stock worth $1,309,292,000 after purchasing an additional 1,270,191 shares during the period. Franklin Resources Inc. increased its position in shares of Thermo Fisher Scientific by 21.0% in the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock worth $2,874,069,000 after purchasing an additional 1,028,125 shares during the period. Corient Private Wealth LLC increased its position in shares of Thermo Fisher Scientific by 89.1% in the second quarter. Corient Private Wealth LLC now owns 1,752,607 shares of the medical research company's stock worth $720,576,000 after purchasing an additional 825,649 shares during the period. Finally, Capital World Investors increased its position in shares of Thermo Fisher Scientific by 7.4% in the third quarter. Capital World Investors now owns 10,285,145 shares of the medical research company's stock worth $4,988,132,000 after purchasing an additional 706,572 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, COO Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $462.66, for a total value of $185,064.00. Following the sale, the chief operating officer owned 25,051 shares of the company's stock, valued at $11,590,095.66. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TMO shares. Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $653.00 to $639.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada set a $490.00 price objective on shares of Thermo Fisher Scientific and gave the company a "sector perform" rating in a research note on Thursday, May 14th. Morgan Stanley reissued an "overweight" rating and issued a $620.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, April 27th. Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $675.00 to $615.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Finally, Wolfe Research initiated coverage on Thermo Fisher Scientific in a research report on Tuesday. They issued an "outperform" rating and a $535.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $612.24.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $480.62 on Wednesday. The stock has a market cap of $178.61 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 2.19 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.15 and a debt-to-equity ratio of 0.77. The stock's 50-day moving average is $480.40 and its 200-day moving average is $533.68. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The medical research company reported $5.44 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.19. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 15.15%.The company had revenue of $11.01 billion for the quarter, compared to analysts' expectations of $10.86 billion. During the same period in the previous year, the business posted $5.15 earnings per share. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2026 guidance at 24.640-25.120 EPS. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 24.86 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's payout ratio is currently 10.34%.

About Thermo Fisher Scientific

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.

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