Cim Investment Mangement Inc. Grows Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cim Investment Mangement Inc. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,369 shares of the medical research company’s stock after acquiring an additional 172 shares during the quarter. Thermo Fisher Scientific comprises about 0.7% of Cim Investment Mangement Inc.’s holdings, making the stock its 16th largest holding. Cim Investment Mangement Inc.’s holdings in Thermo Fisher Scientific were worth $1,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Norges Bank purchased a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $1,411,603,000. Capital World Investors raised its position in shares of Thermo Fisher Scientific by 8.0% in the 1st quarter. Capital World Investors now owns 16,824,726 shares of the medical research company’s stock valued at $4,771,494,000 after purchasing an additional 1,242,140 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Thermo Fisher Scientific by 55,392.1% in the 1st quarter. Fisher Asset Management LLC now owns 944,476 shares of the medical research company’s stock valued at $267,853,000 after purchasing an additional 942,774 shares in the last quarter. Farallon Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $277,166,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Thermo Fisher Scientific by 30.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,217,273 shares of the medical research company’s stock valued at $628,819,000 after purchasing an additional 519,525 shares in the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.

In other Thermo Fisher Scientific news, COO Mark Stevenson sold 25,000 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $328.03, for a total value of $8,200,750.00. Following the sale, the chief operating officer now directly owns 73,538 shares of the company’s stock, valued at $24,122,670.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 30,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $333.02, for a total value of $9,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 304,946 shares in the company, valued at $101,553,116.92. The disclosure for this sale can be found here. Insiders sold 97,500 shares of company stock worth $33,044,350 over the last ninety days. 0.44% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on the company. Wells Fargo & Co upped their target price on Thermo Fisher Scientific from $300.00 to $340.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Argus reaffirmed a “positive” rating and issued a $370.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, February 24th. Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $345.00 to $315.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Needham & Company LLC upped their target price on Thermo Fisher Scientific from $341.00 to $383.00 in a research report on Thursday, April 23rd. Finally, Robert W. Baird upped their target price on Thermo Fisher Scientific from $340.00 to $341.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $353.50.

Shares of TMO stock traded up $4.66 on Tuesday, hitting $356.82. 1,507,000 shares of the stock traded hands, compared to its average volume of 1,921,246. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.32 and a quick ratio of 1.69. The company has a market capitalization of $139.31 billion, a PE ratio of 39.13, a PEG ratio of 2.37 and a beta of 1.04. Thermo Fisher Scientific Inc. has a 1-year low of $250.21 and a 1-year high of $358.00. The company’s fifty day moving average is $342.43 and its 200 day moving average is $323.86.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 22nd. The medical research company reported $2.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.15. Thermo Fisher Scientific had a return on equity of 17.25% and a net margin of 14.31%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period last year, the company earned $2.81 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 11.9 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, June 12th. Thermo Fisher Scientific’s dividend payout ratio is presently 7.13%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

Further Reading: Net Margin – Understanding the Different Kinds of Profit

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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