Retirement Systems of Alabama Has $108.18 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Retirement Systems of Alabama cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 207,953 shares of the medical research company’s stock after selling 202 shares during the quarter. Retirement Systems of Alabama’s holdings in Thermo Fisher Scientific were worth $108,183,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. AMF Tjanstepension AB bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $42,409,000. Czech National Bank raised its position in shares of Thermo Fisher Scientific by 7.0% in the third quarter. Czech National Bank now owns 77,816 shares of the medical research company’s stock valued at $48,135,000 after purchasing an additional 5,076 shares during the period. Miracle Mile Advisors LLC raised its position in shares of Thermo Fisher Scientific by 2.7% in the third quarter. Miracle Mile Advisors LLC now owns 5,915 shares of the medical research company’s stock valued at $3,659,000 after purchasing an additional 155 shares during the period. Foster Group Inc. bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $208,000. Finally, Security National Bank raised its position in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Security National Bank now owns 9,924 shares of the medical research company’s stock valued at $6,139,000 after purchasing an additional 38 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $580.63 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $222.09 billion, a P/E ratio of 35.13, a P/E/G ratio of 4.06 and a beta of 0.77. The business has a 50-day moving average price of $542.95 and a two-hundred day moving average price of $571.55. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS 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%. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has authorized a share repurchase program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.44%.

Analysts Set New Price Targets

TMO has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

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.