Cannell & Spears LLC Reduces Holdings in Thermo Fisher Scientific Inc. $TMO

Cannell & Spears LLC reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 89,106 shares of the medical research company’s stock after selling 2,300 shares during the period. Cannell & Spears LLC’s holdings in Thermo Fisher Scientific were worth $43,218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $2,264,615,000. Soundwatch Capital LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $807,713,000. Wellington Management Group LLP raised its position in Thermo Fisher Scientific by 88.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company’s stock valued at $1,309,292,000 after purchasing an additional 1,270,191 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares during the period. Finally, Franklin Resources Inc. grew its position in Thermo Fisher Scientific by 21.0% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TMO. Stifel Nicolaus upped their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th. TD Cowen dropped their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Robert W. Baird set a $653.00 price target on Thermo Fisher Scientific in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $463.99 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $557.83 and its two-hundred day moving average is $548.59. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The firm has a market capitalization of $172.36 billion, a PE ratio of 26.15, a P/E/G ratio of 2.68 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the business posted $6.10 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

Thermo Fisher Scientific Profile

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.