Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,921 shares of the medical research company's stock after selling 2,032 shares during the period. Retirement Systems of Alabama owned approximately 0.05% of Thermo Fisher Scientific worth $102,466,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TMO. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at $28,000. Pillar Financial Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $29,000. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $30,000. Finally, Noble Wealth Management PBC acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $392.54 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The firm's fifty day simple moving average is $413.43 and its 200-day simple moving average is $488.79. The firm has a market capitalization of $148.18 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.07 and a beta of 0.78. 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 announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $10.23 billion. During the same period in the previous year, the business earned $5.11 EPS. Thermo Fisher Scientific's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.44%. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the business's 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 now directly owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Barclays lowered their price target on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $605.30.

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.

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