California State Teachers Retirement System Has $314.02 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

California State Teachers Retirement System trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 603,622 shares of the medical research company’s stock after selling 18,161 shares during the quarter. California State Teachers Retirement System owned 0.16% of Thermo Fisher Scientific worth $314,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $28,000. Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Pillar Financial Advisors LLC bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $30,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TMO. Evercore ISI cut their price target on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday. Citigroup lowered their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company lowered their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $616.95.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $424.02 on Monday. The business has a 50 day simple moving average of $487.28 and a 200 day simple moving average of $526.70. Thermo Fisher Scientific Inc. has a 52-week low of $409.85 and a 52-week high of $627.88. 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 stock has a market cap of $160.06 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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 17.51% and a net margin of 14.78%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $0.43 per share. The ex-dividend date was Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is 10.09%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This represents a 25.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 in the last quarter. 0.33% of the stock is currently 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.