State of Alaska Department of Revenue Raises Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

State of Alaska Department of Revenue raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,387 shares of the medical research company's stock after buying an additional 2,870 shares during the quarter. State of Alaska Department of Revenue's holdings in Thermo Fisher Scientific were worth $27,456,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC increased its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock worth $25,000 after buying an additional 35 shares during the period. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC increased its holdings in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock worth $30,000 after buying an additional 29 shares during the period. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded down $3.00 on Friday, reaching $554.38. The stock had a trading volume of 1,090,373 shares, compared to its average volume of 1,467,407. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a 12-month low of $420.21 and a 12-month high of $627.88. The business's 50-day moving average price is $605.12 and its 200 day moving average price is $584.07. The stock has a market cap of $211.62 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.69 earnings per share. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company's stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 6,300 shares of the business's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,548,375.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a "strong-buy" rating in a report on Monday, September 16th. Sanford C. Bernstein reduced their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a "market perform" rating on the stock in a report on Thursday. Bank of America raised their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada cut their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $649.33.

Thermo Fisher Scientific 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.