New York State Common Retirement Fund Sells 2,381 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

New York State Common Retirement Fund cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 541,960 shares of the medical research company's stock after selling 2,381 shares during the period. New York State Common Retirement Fund owned about 0.14% of Thermo Fisher Scientific worth $281,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $27,000. Barrett & Company Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. Missouri Trust & Investment Co acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $30,000. 89.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on TMO shares. Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Bank of America cut their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Royal Bank of Canada cut their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Citigroup lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Raymond James reaffirmed an "outperform" rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $658.00.

Insider Transactions at Thermo Fisher Scientific

In related news, CFO Stephen Williamson sold 9,825 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock worth $11,231,699 in the last 90 days. Insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Stock Down 1.0 %

TMO traded down $5.28 during midday trading on Friday, reaching $532.55. 1,613,862 shares of the company were exchanged, compared to its average volume of 2,087,588. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company's fifty day moving average price is $548.36 and its 200 day moving average price is $568.15. The company has a market cap of $203.70 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping 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%. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's payout ratio is presently 9.44%.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

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.