Teachers Retirement System of The State of Kentucky Lowers Position in Thermo Fisher Scientific Inc. $TMO

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 49.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,039 shares of the medical research company’s stock after selling 29,120 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Thermo Fisher Scientific were worth $14,569,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. Highline Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the period. Capital A Wealth Management LLC boosted its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $31,000. Howard Hughes Medical Institute acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. Finally, Elevation Wealth Partners LLC grew its stake in Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a report on Sunday, December 7th. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a research report on Friday, January 30th. Barclays raised their price objective on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Finally, The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target on the stock. One equities research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Trading Down 0.1%

TMO opened at $507.82 on Wednesday. The stock has a market capitalization of $188.64 billion, a PE ratio of 28.63, a P/E/G ratio of 2.93 and a beta of 0.96. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The business’s 50 day moving average price is $571.47 and its 200 day moving average price is $548.67.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.10 earnings per share. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.47 per share. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.70%.

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

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michel Lagarde sold 22,046 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the sale, the chief operating officer owned 84,117 shares of the company’s stock, valued at $47,404,976.52. This trade represents a 20.77% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by insiders.

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.