State of Michigan Retirement System Has $83.64 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

State of Michigan Retirement System lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,910 shares of the medical research company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Thermo Fisher Scientific were worth $83,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwest Financial Advisors bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $29,000. True Wealth Design LLC raised its position in Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Pineridge Advisors LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $39,000. Cape Investment Advisory Inc. raised its position in Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 26 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its position in Thermo Fisher Scientific by 49.1% in the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after purchasing an additional 27 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,000 shares of company stock worth $12,532,780. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Down 1.4 %

Thermo Fisher Scientific stock traded down $7.79 during mid-day trading on Tuesday, reaching $533.93. The stock had a trading volume of 1,315,331 shares, compared to its average volume of 1,549,184. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The stock’s 50-day simple moving average is $574.71 and its 200-day simple moving average is $563.50. The firm has a market capitalization of $203.81 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group increased their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group restated a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. HSBC raised their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $606.47.

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.