State of Tennessee Treasury Department Has $84.45 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

State of Tennessee Treasury Department increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,098 shares of the medical research company’s stock after purchasing an additional 35,732 shares during the period. State of Tennessee Treasury Department’s holdings in Thermo Fisher Scientific were worth $84,448,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Thermo Fisher Scientific by 0.6% during the third quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock worth $16,582,503,000 after acquiring an additional 180,618 shares in the last quarter. Morgan Stanley lifted its holdings in Thermo Fisher Scientific by 0.4% during the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock worth $6,285,838,000 after acquiring an additional 50,736 shares in the last quarter. Capital Research Global Investors lifted its holdings in Thermo Fisher Scientific by 6.9% during the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after acquiring an additional 517,137 shares in the last quarter. Norges Bank bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $2,909,524,000. Finally, Northern Trust Corp lifted its holdings in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company’s stock valued at $1,988,856,000 after purchasing an additional 99,377 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TMO shares. Evercore ISI upped their target price on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup started coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They set a “neutral” rating and a $620.00 target price on the stock. Barclays upped their target price on Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.94.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,238,340.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,238,340.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of 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. Insiders sold 32,000 shares of company stock worth $18,512,580 over the last three months. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded up $1.25 during trading on Friday, hitting $581.09. The company had a trading volume of 1,231,957 shares, compared to its average volume of 1,173,904. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The firm has a market capitalization of $221.81 billion, a P/E ratio of 37.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79. The stock’s 50-day moving average price is $575.14 and its 200 day moving average price is $555.31. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The business 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%. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Friday, June 14th. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

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.