Thermo Fisher Scientific Inc. $TMO Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Thermo Fisher Scientific by 8.4%, owning 128,544 shares valued at approximately $63.96 million after selling 11,843 shares.
• Thermo Fisher Scientific reported earnings of $5.36 per share for the last quarter, surpassing analysts' expectations and showing a 2.9% year-over-year revenue increase with total revenue of $10.86 billion.
• The company announced a quarterly dividend of $0.43, reflecting an annualized dividend yield of 0.4%, with ten consecutive years of dividend payments.

State of New Jersey Common Pension Fund D reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,544 shares of the medical research company's stock after selling 11,843 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Thermo Fisher Scientific were worth $63,963,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TMO. Bernard Wealth Management Corp. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $30,000. IMA Advisory Services Inc. bought a new position in Thermo Fisher Scientific in the first quarter valued at about $35,000. Navigoe LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Thermo Fisher Scientific in the first quarter valued at about $37,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the company. Robert W. Baird increased their target price on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Stifel Nicolaus lowered 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. Hsbc Global Res downgraded Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial restated an "outperform" rating and set a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Trading Up 1.0%

Shares of NYSE TMO traded up $4.92 during trading hours on Friday, reaching $489.96. The stock had a trading volume of 2,462,453 shares, compared to its average volume of 3,059,810. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The firm has a market cap of $185.01 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 2.61 and a beta of 0.74. The business's fifty day moving average price is $434.83 and its two-hundred day moving average price is $459.02. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.37 earnings per share. Analysts expect 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. Shareholders of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 9.95%.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 8,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 115,174 shares in the company, valued at $52,340,824.30. This represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,400 shares of company stock worth $8,345,792 over the last ninety days. 0.33% of the stock is owned by insiders.

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.