Thermo Fisher Scientific Inc. $TMO Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,248 shares of the medical research company’s stock after purchasing an additional 4,324 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Thermo Fisher Scientific were worth $64,143,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TMO. Hardy Reed LLC grew its holdings in Thermo Fisher Scientific by 0.4% during the 3rd quarter. Hardy Reed LLC now owns 5,080 shares of the medical research company’s stock worth $2,464,000 after acquiring an additional 20 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Thermo Fisher Scientific by 1.5% during the 3rd quarter. HighTower Advisors LLC now owns 146,255 shares of the medical research company’s stock worth $70,938,000 after purchasing an additional 2,143 shares during the last quarter. Shepherd Financial Partners LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter worth $220,000. Berkshire Asset Management LLC PA purchased a new position in Thermo Fisher Scientific in the third quarter valued at $209,000. Finally, GF Fund Management CO. LTD. lifted its holdings in Thermo Fisher Scientific by 9.7% during the 3rd quarter. GF Fund Management CO. LTD. now owns 10,317 shares of the medical research company’s stock worth $5,004,000 after buying an additional 911 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TMO. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. TD Cowen reduced their price target on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Argus upped their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insider Activity

In related news, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction dated 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 directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,996 shares of company stock worth $63,355,935 over the last quarter. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.9%

TMO opened at $504.99 on Friday. The business has a 50 day moving average price of $585.45 and a two-hundred day moving average price of $544.55. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a market cap of $189.73 billion, a PE ratio of 28.47, a P/E/G ratio of 2.91 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

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 the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the prior year, the business earned $6.10 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Company Profile

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.