New York State Common Retirement Fund Buys 2,092 Shares of Thermo Fisher Scientific Inc. $TMO

New York State Common Retirement Fund raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 491,917 shares of the medical research company’s stock after purchasing an additional 2,092 shares during the quarter. New York State Common Retirement Fund’s holdings in Thermo Fisher Scientific were worth $238,590,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Highline Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares in the last quarter. Capital A Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. HighMark Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 140.6% during the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after purchasing an additional 45 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. Finally, Harbor Asset Planning Inc. acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $34,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.6%

TMO opened at $608.00 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. The stock has a fifty day moving average of $593.74 and a 200-day moving average of $535.61. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The company has a market capitalization of $228.43 billion, a P/E ratio of 35.12, a P/E/G ratio of 4.10 and a beta of 0.91.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.44 by $0.13. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 10,225 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $571.62, for a total transaction of $5,844,814.50. Following the sale, the vice president directly owned 14,145 shares in the company, valued at $8,085,564.90. This represents a 41.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the transaction, the executive vice president owned 18,731 shares of the company’s stock, valued at $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 124,517 shares of company stock valued at $72,363,568 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TMO. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. UBS Group increased their price objective on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, Leerink Partners lifted their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $625.47.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.