Cannell & Spears LLC Sells 15,637 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cannell & Spears LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,250 shares of the medical research company’s stock after selling 15,637 shares during the period. Thermo Fisher Scientific accounts for 1.0% of Cannell & Spears LLC’s investment portfolio, making the stock its 27th biggest holding. Cannell & Spears LLC’s holdings in Thermo Fisher Scientific were worth $49,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of TMO. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter valued at $26,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Finally, Missouri Trust & Investment Co purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $13,106,062 in the last quarter. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $499.75 on Monday. The firm has a market cap of $188.53 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.99 and a beta of 0.79. The firm’s fifty day moving average is $541.60 and its 200 day moving average is $551.84. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. UBS Group upped their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Bank of America decreased their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $653.23.

About Thermo Fisher Scientific

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.