New York State Common Retirement Fund Decreases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

New York State Common Retirement Fund lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 517,512 shares of the medical research company's stock after selling 24,448 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Thermo Fisher Scientific worth $257,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cypress Advisory Group LLC purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $253,000. Intact Investment Management Inc. grew its holdings in shares of Thermo Fisher Scientific by 34.0% during the fourth 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of Thermo Fisher Scientific by 22.0% during the first quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock worth $2,419,000 after purchasing an additional 877 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Thermo Fisher Scientific by 9.5% during the fourth quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after purchasing an additional 114,277 shares in the last quarter. Finally, Hancock Whitney Corp grew 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 worth $2,802,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TMO shares. Evercore ISI dropped their target price on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Barclays dropped their target price on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $600.30.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president directly owned 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Up 1.0%

TMO traded up $4.29 during trading hours on Friday, reaching $435.02. 2,511,384 shares of the company's stock traded hands, compared to its average volume of 1,999,630. The firm has a 50-day moving average price of $409.39 and a 200 day moving average price of $476.23. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $164.22 billion, a PE ratio of 25.51, a PEG ratio of 2.31 and a beta of 0.77.

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

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific 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.