Mackenzie Financial Corp cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 903,938 shares of the medical research company's stock after selling 18,118 shares during the period. Mackenzie Financial Corp owned approximately 0.24% of Thermo Fisher Scientific worth $470,256,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Noble Wealth Management PBC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $35,000. Finally, Cassady Schiller Wealth Management LLC raised its holdings in shares of Thermo Fisher Scientific by 89.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Thermo Fisher Scientific
In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the sale, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of the 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 completion of the sale, the senior vice president now owns 10,816 shares in the company, valued at $5,759,736.32. The trade was a 25.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,075 shares of company stock worth $7,305,942 over the last 90 days. 0.33% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Scotiabank reduced their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Citigroup reduced their price target 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. Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, UBS Group reduced their price objective on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $607.43.
Get Our Latest Stock Analysis on Thermo Fisher Scientific
Thermo Fisher Scientific Stock Performance
Thermo Fisher Scientific stock traded down $1.67 during mid-day trading on Wednesday, reaching $401.88. 1,930,021 shares of the company traded hands, compared to its average volume of 1,872,985. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a fifty-two week low of $390.50 and a fifty-two week high of $627.88. The company has a market capitalization of $151.71 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82. The firm's fifty day moving average is $437.74 and its two-hundred day moving average is $502.70.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Thermo Fisher Scientific's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.11 EPS. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific's payout ratio is currently 10.09%.
About Thermo Fisher Scientific
(
Free Report)
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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