Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 316,831 shares of the medical research company’s stock after selling 20,300 shares during the period. Thermo Fisher Scientific makes up about 0.8% of State Treasurer State of Michigan’s portfolio, making the stock its 21st largest holding. State Treasurer State of Michigan owned 0.08% of Thermo Fisher Scientific worth $93,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Private Trust Co. NA increased its stake in shares of Thermo Fisher Scientific by 66.7% in the second quarter. Private Trust Co. NA now owns 3,273 shares of the medical research company’s stock worth $961,000 after acquiring an additional 1,310 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 4.4% during the 1st quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock worth $2,578,000 after buying an additional 393 shares during the period. Barrett Asset Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.4% during the 1st quarter. Barrett Asset Management LLC now owns 111,500 shares of the medical research company’s stock worth $30,520,000 after buying an additional 395 shares during the period. Gateway Investment Advisers LLC boosted its holdings in shares of Thermo Fisher Scientific by 45.5% during the 2nd quarter. Gateway Investment Advisers LLC now owns 38,146 shares of the medical research company’s stock worth $11,203,000 after buying an additional 11,928 shares during the period. Finally, Highstreet Asset Management Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth about $381,000. Hedge funds and other institutional investors own 88.02% of the company’s stock.

In other Thermo Fisher Scientific news, Director C Martin Harris sold 275 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $270.73, for a total transaction of $74,450.75. Following the completion of the sale, the director now directly owns 6,433 shares in the company, valued at $1,741,606.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the sale, the chief executive officer now owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The disclosure for this sale can be found here. Insiders sold 52,775 shares of company stock valued at $14,986,676 over the last 90 days. 0.45% of the stock is owned by company insiders.

Several brokerages recently commented on TMO. BTIG Research lifted their target price on shares of Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Credit Suisse Group reaffirmed a “buy” rating and set a $310.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Monday, July 15th. Wolfe Research started coverage on shares of Thermo Fisher Scientific in a report on Thursday, May 30th. They set an “outperform” rating for the company. Finally, Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average target price of $303.17.

TMO stock traded up $5.98 during trading on Tuesday, reaching $274.44. 116,307 shares of the company were exchanged, compared to its average volume of 1,445,578. The business’s 50-day moving average is $290.64. The company has a market capitalization of $109.92 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11. Thermo Fisher Scientific Inc. has a twelve month low of $208.34 and a twelve month high of $305.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 12.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a $0.19 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 6.83%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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