Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,662 shares of the medical research company’s stock after selling 215 shares during the quarter. Arizona State Retirement System’s holdings in Thermo Fisher Scientific were worth $61,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TMO. Signature Resources Capital Management LLC raised its stake in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. LifeSteps Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Northwest Financial Advisors bought a new position in Thermo Fisher Scientific during the 4th quarter worth $29,000. Finally, Stephens Consulting LLC lifted its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Royal Bank of Canada lifted their price target on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays decreased their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Stifel Nicolaus lifted their target price on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird raised their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $630.41.

Thermo Fisher Scientific Stock Down 0.8 %

Thermo Fisher Scientific stock opened at $606.88 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $582.90 and a 200-day moving average of $577.55. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $622.30. The stock has a market capitalization of $231.83 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the prior year, the firm posted $5.15 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

Insider Activity

In other news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

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.