State of New Jersey Common Pension Fund D Has $63.96 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

State of New Jersey Common Pension Fund D reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.4% in the 1st quarter, Holdings Channel reports. The firm owned 128,544 shares of the medical research company’s stock after selling 11,843 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Thermo Fisher Scientific were worth $63,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company’s stock valued at $79,677,000 after acquiring an additional 461 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 2.8% during the fourth quarter. NewEdge Advisors LLC now owns 30,489 shares of the medical research company’s stock valued at $15,862,000 after acquiring an additional 843 shares during the period. Finally, Global Endowment Management LP lifted its holdings in shares of Thermo Fisher Scientific by 8.0% during the fourth quarter. Global Endowment Management LP now owns 809 shares of the medical research company’s stock valued at $421,000 after acquiring an additional 60 shares during the period. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TMO. Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $535.00 price target (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Hsbc Global Res cut Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada lowered their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $593.00.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $454.45, for a total transaction of $3,635,600.00. Following the completion of the sale, the chief executive officer owned 115,174 shares of the company’s stock, valued at $52,340,824.30. This trade represents a 6.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,400 shares of company stock valued at $8,345,792 in the last ninety days. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $485.62 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The stock has a 50 day simple moving average of $433.08 and a 200 day simple moving average of $461.44. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The firm has a market capitalization of $183.38 billion, a PE ratio of 28.09, a P/E/G ratio of 2.59 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period in the previous year, the firm earned $5.37 EPS. Thermo Fisher Scientific’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.95%.

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.