Mackenzie Financial Corp Decreases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Mackenzie Financial Corp has decreased its stock position in Thermo Fisher Scientific Inc. by 13.1%, now owning 785,388 shares valued at approximately $390.8 million.
• Brokerage ratings have varied, with Hsbc Global Res downgrading the stock to a "hold," while Raymond James has increased their price target from $525 to $535.
• The company recently reported earnings of $5.36 per share, exceeding expectations, and announced a quarterly dividend of $0.43 per share, reflecting a 0.36% yield.

Mackenzie Financial Corp reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 785,388 shares of the medical research company's stock after selling 118,550 shares during the quarter. Mackenzie Financial Corp owned 0.21% of Thermo Fisher Scientific worth $390,809,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TMO. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $30,000. IMA Advisory Services Inc. purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $35,000. Navigoe LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Thermo Fisher Scientific during the first quarter worth $37,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on TMO. Hsbc Global Res cut Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Raymond James Financial restated an "outperform" rating and set a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Argus reduced their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $478.61 on Monday. The firm has a market capitalization of $180.67 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. The stock's fifty day moving average is $413.76 and its 200-day moving average is $469.17.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating analysts' consensus estimates of $5.22 by $0.14. The company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $5.37 earnings per share. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 9.95%.

Thermo Fisher Scientific Company Profile

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.

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