Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 318,800 shares of the medical research company's stock after selling 12,976 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Thermo Fisher Scientific worth $158,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $25,000. Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Ameriflex Group Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $35,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 89.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock worth $36,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president directly owned 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TMO has been the topic of several analyst reports. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Barclays decreased their price target on 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. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Scotiabank cut their price objective on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $604.05.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded up $15.89 on Tuesday, hitting $421.35. 2,603,007 shares of the company were exchanged, compared to its average volume of 1,964,289. 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 company has a 50-day moving average price of $409.41 and a 200 day moving average price of $482.09. The stock has a market capitalization of $159.06 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88.

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 (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same period in the prior year, the business earned $5.11 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.41%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 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.