Connor Clark & Lunn Investment Management Ltd. Has $19.79 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 38,039 shares of the medical research company’s stock after selling 237 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Thermo Fisher Scientific were worth $19,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. FMR LLC grew its holdings in Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC grew its holdings in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Franklin Resources Inc. grew its holdings in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. Finally, Amundi grew its holdings in Thermo Fisher Scientific by 13.5% during the 4th quarter. Amundi now owns 2,860,847 shares of the medical research company’s stock worth $1,556,689,000 after acquiring an additional 340,263 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $13,106,062 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $508.62 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company has a market capitalization of $191.88 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The company’s 50 day moving average price is $548.72 and its two-hundred day moving average price is $560.10. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results 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 net margin of 14.78% and a return on equity of 17.51%. On average, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TMO. Bank of America decreased their price objective 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. UBS Group increased their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $653.23.

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.