Cannell & Spears LLC Has $49.03 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cannell & Spears LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,250 shares of the medical research company’s stock after selling 15,637 shares during the quarter. Thermo Fisher Scientific accounts for 1.0% of Cannell & Spears LLC’s holdings, making the stock its 27th largest holding. Cannell & Spears LLC’s holdings in Thermo Fisher Scientific were worth $49,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stonegate Investment Group LLC lifted its position in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after buying an additional 18 shares during the last quarter. Semus Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after acquiring an additional 18 shares during the last quarter. Bangor Savings Bank boosted its stake in shares of Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 19 shares in the last quarter. Eagle Rock Investment Company LLC increased its position in Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after purchasing an additional 19 shares in the last quarter. Finally, KRS Capital Management LLC boosted its position in Thermo Fisher Scientific by 1.5% in the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock valued at $685,000 after buying an additional 20 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was 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 directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,900 shares of company stock valued at $13,106,062. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of a number of research reports. UBS Group increased their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Bank of America dropped their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Scotiabank boosted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $653.23.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $499.75 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $541.60 and its 200-day moving average price is $551.84. The firm has a market capitalization 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. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

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%. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Thermo Fisher Scientific 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.