State of Tennessee Department of Treasury Has $77.66 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

State of Tennessee Department of Treasury lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,288 shares of the medical research company’s stock after selling 6,433 shares during the period. State of Tennessee Department of Treasury’s holdings in Thermo Fisher Scientific were worth $77,664,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TMO. Van Lanschot Kempen Investment Management N.V. lifted its stake in Thermo Fisher Scientific by 43.1% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 309,975 shares of the medical research company’s stock valued at $161,258,000 after purchasing an additional 93,425 shares during the last quarter. Wealth Dimensions Group Ltd. boosted its holdings in shares of Thermo Fisher Scientific by 65.1% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 667 shares of the medical research company’s stock valued at $347,000 after acquiring an additional 263 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Thermo Fisher Scientific by 1.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 35,119 shares of the medical research company’s stock worth $18,267,000 after acquiring an additional 661 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Thermo Fisher Scientific by 2.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 66,746 shares of the medical research company’s stock valued at $34,723,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Thermo Fisher Scientific by 72.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 21,330 shares of the medical research company’s stock valued at $11,097,000 after purchasing an additional 8,946 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $426.11 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm’s 50-day simple moving average is $497.67 and its 200 day simple moving average is $532.62. The stock has a market cap of $160.85 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific Inc. has a fifty-two week low of $409.85 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.40%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.41%.

Analysts Set New Price Targets

Several research firms recently commented on TMO. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research report on Friday, January 10th. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $680.00 to $580.00 and set an “overweight” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.67.

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.