Arizona State Retirement System Purchases 5,991 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Arizona State Retirement System raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 116,748 shares of the medical research company's stock after purchasing an additional 5,991 shares during the period. Arizona State Retirement System's holdings in Thermo Fisher Scientific were worth $58,094,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cypress Advisory Group LLC bought a new position in Thermo Fisher Scientific in the fourth quarter worth about $253,000. Intact Investment Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 34.0% in the 4th quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock worth $1,353,000 after purchasing an additional 660 shares during the last quarter. GAMMA Investing LLC boosted its position in Thermo Fisher Scientific by 22.0% during the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after purchasing an additional 877 shares during the period. Deutsche Bank AG increased its position in Thermo Fisher Scientific by 9.5% in the fourth quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after buying an additional 114,277 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in shares of Thermo Fisher Scientific by 0.6% during the fourth quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock valued at $2,802,000 after acquiring an additional 30 shares during the period. Institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TMO shares. Stifel Nicolaus reduced their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Argus lowered their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $600.30.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $4.29 on Friday, reaching $435.02. The stock had a trading volume of 2,511,384 shares, compared to its average volume of 1,995,412. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The company has a market cap of $164.22 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The firm has a fifty day moving average of $409.39 and a two-hundred day moving average of $476.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.11 earnings per share. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific's payout ratio is currently 10.09%.

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.