Thermo Fisher Scientific Inc. $TMO Stock Position Lessened by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% during the third quarter, Holdings Channel.com reports. The firm owned 755,649 shares of the medical research company’s stock after selling 7,783 shares during the period. California Public Employees Retirement System’s holdings in Thermo Fisher Scientific were worth $366,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after acquiring an additional 33 shares during the period. Capital A Wealth Management LLC raised its holdings 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 acquired a new stake in Thermo Fisher Scientific in the third quarter worth approximately $31,000. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $33,000. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TMO shares. TD Cowen cut 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 report on Friday, January 30th. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Citigroup lifted their price target on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $463.99 on Friday. The stock’s fifty day simple moving average is $557.83 and its 200-day simple moving average is $548.59. The company has a market capitalization of $172.36 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.68 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $6.10 EPS. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Thermo Fisher Scientific 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.