Mackenzie Financial Corp Has $304.63 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Mackenzie Financial Corp lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.6% in the second quarter, HoldingsChannel.com reports. The firm owned 550,859 shares of the medical research company’s stock after selling 65,075 shares during the quarter. Mackenzie Financial Corp’s holdings in Thermo Fisher Scientific were worth $304,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Signature Resources Capital Management LLC increased its stake in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. True Wealth Design LLC increased its position in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after purchasing an additional 51 shares during the period. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC grew its stake in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. bought a new position in Thermo Fisher Scientific in the 1st quarter valued at about $31,000. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on TMO shares. TD Cowen increased their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Barclays decreased their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Stifel Nicolaus boosted their target price on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $647.78.

Insider Activity

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 in the last ninety days. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Up 3.3 %

NYSE TMO opened at $619.45 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $236.63 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 3.88 and a beta of 0.78. The business’s 50-day moving average price is $604.48 and its two-hundred day moving average price is $581.96.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same quarter last year, the business earned $5.15 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Thermo Fisher Scientific Company 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.