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

New York State Teachers Retirement System lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,776 shares of the medical research company’s stock after selling 15,720 shares during the period. New York State Teachers Retirement System’s holdings in Thermo Fisher Scientific were worth $172,600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 11.4% during the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after acquiring an additional 995 shares during the period. Greenwood Gearhart Inc. lifted its holdings in shares of Thermo Fisher Scientific by 9.8% during the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock valued at $12,730,000 after acquiring an additional 1,837 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Thermo Fisher Scientific by 23.6% during the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after acquiring an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its holdings in shares of Thermo Fisher Scientific by 6.2% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after acquiring an additional 618 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.0 %

NYSE:TMO opened at $532.63 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $548.21 and a two-hundred day moving average price of $571.28. The company has a market cap of $203.73 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77.

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

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TMO. Bernstein Bank lifted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Citigroup lifted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Evercore ISI cut their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays cut their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $658.00.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by insiders.

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.