Mackenzie Financial Corp Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Mackenzie Financial Corp lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 49.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 613,930 shares of the medical research company’s stock after selling 602,973 shares during the period. Mackenzie Financial Corp owned about 0.16% of Thermo Fisher Scientific worth $325,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TMO. Bornite Capital Management LP boosted its holdings in Thermo Fisher Scientific by 50.0% in the first quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock worth $17,719,000 after purchasing an additional 10,000 shares during the period. Fairfield Bush & CO. raised its stake in shares of Thermo Fisher Scientific by 1.2% during the first quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock valued at $1,729,000 after purchasing an additional 36 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Thermo Fisher Scientific by 563.5% during the first quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock valued at $11,721,000 after purchasing an additional 16,853 shares in the last quarter. Covestor Ltd raised its stake in shares of Thermo Fisher Scientific by 60.5% during the first quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock valued at $190,000 after purchasing an additional 121 shares in the last quarter. Finally, Merit Financial Group LLC raised its stake in shares of Thermo Fisher Scientific by 3.6% during the first quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock valued at $395,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the topic of several research analyst reports. TheStreet raised Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. Barclays cut Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $475.00 to $555.00 in a research report on Wednesday, January 24th. Raymond James lifted their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Citigroup initiated coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective for the company. Finally, HSBC started coverage on Thermo Fisher Scientific in a report on Monday, December 18th. They set a “buy” rating and a $610.00 price objective for the company. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $601.56.

Thermo Fisher Scientific Stock Down 1.4 %

Shares of NYSE:TMO traded down $7.88 during trading on Monday, hitting $557.35. 429,803 shares of the company were exchanged, compared to its average volume of 1,538,039. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average price of $571.66 and a two-hundred day moving average price of $526.14. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The stock has a market cap of $212.75 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 2.38 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, beating analysts’ consensus estimates of $5.64 by $0.03. The firm had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.40 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.10%.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,039,491.68. The sale was disclosed in a filing with the SEC, which is available through this link. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. In the last three months, insiders sold 50,277 shares of company stock worth $28,513,384. 0.32% of the stock is currently owned by company insiders.

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.