Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,288 shares of the medical research company's stock after selling 6,433 shares during the quarter. State of Tennessee Department of Treasury's holdings in Thermo Fisher Scientific were worth $77,664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $28,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Pillar Financial Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday. Evercore ISI lowered their price target on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday. Scotiabank boosted their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a research report on Monday, February 3rd. Raymond James reissued an "outperform" rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target for the company in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average price target of $618.68.

Insider Transactions at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the business's 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 $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company's stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock traded down $2.64 during midday trading on Friday, reaching $424.02. The company's stock had a trading volume of 2,698,277 shares, compared to its average volume of 2,199,688. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a fifty-two week low of $409.85 and a fifty-two week high of $627.88. The firm has a market capitalization of $160.06 billion, a PE ratio of 25.65, a P/E/G ratio of 2.99 and a beta of 0.86. The stock's 50 day simple moving average is $489.25 and its 200 day simple moving average is $528.84.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $0.43 per share. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.41%.

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.