CIBC Asset Management Inc Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

CIBC Asset Management Inc decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 232,610 shares of the medical research company’s stock after selling 13,103 shares during the quarter. CIBC Asset Management Inc owned 0.06% of Thermo Fisher Scientific worth $120,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. Legacy Investment Solutions LLC acquired a new stake in Thermo Fisher Scientific in the third quarter valued at $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific in the third quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $28,000. Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.0 %

NYSE:TMO opened at $532.58 on Monday. 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 has a market cap of $203.71 billion, a PE ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The business’s 50 day moving average is $548.51 and its two-hundred day moving average is $569.90.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 return on equity of 17.51% and a net margin of 14.78%. On average, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has initiated a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Bernstein Bank boosted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Scotiabank lifted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Finally, Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

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.