Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Reduced by State of Michigan Retirement System

State of Michigan Retirement System trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 26.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 103,810 shares of the medical research company’s stock after selling 38,200 shares during the period. State of Michigan Retirement System’s holdings in Thermo Fisher Scientific were worth $54,005,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TMO. FMR LLC raised its holdings in shares of Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. Proficio Capital Partners LLC increased its position in Thermo Fisher Scientific by 68,617.0% during the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock worth $396,810,000 after buying an additional 761,649 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Thermo Fisher Scientific during the third quarter valued at about $254,412,000. Lindsell Train Ltd bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $211,858,000. Finally, Franklin Resources Inc. increased its holdings in shares of Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TMO shares. UBS Group upped their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Scotiabank lifted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Bank of America cut their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $656.86.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $523.00 on Tuesday. The company has a market capitalization of $197.31 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.99 and a beta of 0.77. The company has a 50-day moving average of $549.32 and a 200-day moving average of $564.35. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 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.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

Thermo Fisher Scientific Company 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.