Public Sector Pension Investment Board Increases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• The Public Sector Pension Investment Board increased its stake in Thermo Fisher Scientific Inc. by 0.6%, acquiring an additional 1,298 shares, bringing its total ownership to 211,095 shares valued at approximately $105 million.
• Analysts have varied price targets for Thermo Fisher shares, with notable revisions including Argus lowering their target to $470 and Raymond James raising theirs to $535, indicating a generally positive sentiment towards the stock.
• Thermo Fisher Scientific recently reported $5.36 EPS for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.43 per share with a yield of 0.4%.

Public Sector Pension Investment Board raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,095 shares of the medical research company's stock after purchasing an additional 1,298 shares during the period. Public Sector Pension Investment Board owned 0.06% of Thermo Fisher Scientific worth $105,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TMO. GAMMA Investing LLC increased its stake in Thermo Fisher Scientific by 60,610.9% in the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after purchasing an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after buying an additional 1,433,444 shares during the period. Nuveen LLC purchased a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $532,360,000. Kovitz Investment Group Partners LLC increased its holdings in Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after purchasing an additional 858,193 shares during the period. Finally, Farallon Capital Management LLC raised its position in Thermo Fisher Scientific by 73.8% during the 4th quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock valued at $641,577,000 after purchasing an additional 523,800 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TMO shares. Hsbc Global Res downgraded Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Royal Bank Of Canada reduced their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Argus dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird boosted their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Barclays increased their target price on Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $454.45, for a total value of $3,635,600.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at approximately $52,340,824.30. The trade was a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,400 shares of company stock worth $8,345,792. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded up $0.83 during mid-day trading on Thursday, hitting $485.62. The stock had a trading volume of 1,955,228 shares, compared to its average volume of 2,498,410. The firm has a market cap of $183.38 billion, a PE ratio of 28.09, a PEG ratio of 2.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The company has a 50 day moving average of $431.32 and a two-hundred day moving average of $462.11. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The firm had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the firm earned $5.37 earnings per share. Thermo Fisher Scientific's revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is presently 9.95%.

About Thermo Fisher Scientific

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.