Teacher Retirement System of Texas Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Teacher Retirement System of Texas lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 22.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 185,972 shares of the medical research company’s stock after selling 54,629 shares during the quarter. Thermo Fisher Scientific comprises 0.6% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 29th biggest position. Teacher Retirement System of Texas’ holdings in Thermo Fisher Scientific were worth $109,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FDx Advisors Inc. increased its stake in Thermo Fisher Scientific by 29.0% in the fourth quarter. FDx Advisors Inc. now owns 2,463 shares of the medical research company’s stock valued at $1,643,000 after acquiring an additional 553 shares during the last quarter. AGF Investments LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at $400,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Thermo Fisher Scientific in the fourth quarter valued at $403,000. Finally, RFG Advisory LLC increased its stake in Thermo Fisher Scientific by 7.8% in the fourth quarter. RFG Advisory LLC now owns 2,945 shares of the medical research company’s stock valued at $1,965,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Insider Activity

In other news, Director Jim P. Manzi sold 814 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $597.24, for a total transaction of $486,153.36. Following the completion of the transaction, the director now directly owns 15,807 shares in the company, valued at $9,440,572.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $588.36, for a total value of $5,883,600.00. Following the completion of the transaction, the chief executive officer now directly owns 183,373 shares in the company, valued at approximately $107,889,338.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jim P. Manzi sold 814 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $597.24, for a total transaction of $486,153.36. Following the completion of the transaction, the director now owns 15,807 shares of the company’s stock, valued at $9,440,572.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,994 shares of company stock worth $29,033,170. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $670.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Barclays raised their price objective on Thermo Fisher Scientific from $630.00 to $685.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. Wells Fargo & Company cut Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $605.00 to $525.00 in a research note on Monday, April 25th. Finally, SVB Leerink raised their price objective on Thermo Fisher Scientific from $630.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $661.08.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $590.26 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.13. Thermo Fisher Scientific Inc. has a one year low of $497.83 and a one year high of $672.34. The company has a 50-day simple moving average of $549.03 and a two-hundred day simple moving average of $557.79. The firm has a market capitalization of $231.06 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The medical research company reported $5.51 EPS for the quarter, topping the consensus estimate of $4.92 by $0.59. Thermo Fisher Scientific had a net margin of 17.37% and a return on equity of 24.36%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $9.95 billion. During the same period last year, the business posted $5.60 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 22.92 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.20%. Thermo Fisher Scientific’s payout ratio is 6.39%.

About Thermo Fisher Scientific

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Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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

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