State of Michigan Retirement System Lowers Stock Holdings in Thermo Fisher Scientific Inc. $TMO

State of Michigan Retirement System lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 102,610 shares of the medical research company’s stock after selling 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Thermo Fisher Scientific were worth $41,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Meridian Management Co. raised its position in Thermo Fisher Scientific by 91.0% during the 2nd quarter. Meridian Management Co. now owns 10,166 shares of the medical research company’s stock worth $4,122,000 after buying an additional 4,844 shares during the last quarter. Tredje AP fonden raised its holdings in Thermo Fisher Scientific by 44.6% during the second quarter. Tredje AP fonden now owns 201,971 shares of the medical research company’s stock worth $81,891,000 after purchasing an additional 62,279 shares in the last quarter. TIAA Trust National Association boosted its holdings in Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock valued at $50,256,000 after purchasing an additional 11,817 shares in the last quarter. Versor Investments LP acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $271,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Thermo Fisher Scientific by 56.2% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,632 shares of the medical research company’s stock valued at $662,000 after buying an additional 587 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $574.15, for a total transaction of $229,660.00. Following the sale, the executive vice president directly owned 21,152 shares of the company’s stock, valued at $12,144,420.80. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joseph R. Holmes sold 385 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the completion of the transaction, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at approximately $1,142,408.97. This represents a 14.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 54,420 shares of company stock worth $28,134,684. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the topic of a number of recent analyst reports. HSBC reaffirmed a “hold” rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Wells Fargo & Company increased their price target on shares of Thermo Fisher Scientific from $565.00 to $635.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. TD Cowen upped their target price on shares of Thermo Fisher Scientific from $612.00 to $654.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. UBS Group lifted their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, Robert W. Baird upped their price target on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Nineteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $601.65.

Thermo Fisher Scientific Stock Up 2.2%

TMO stock opened at $568.25 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $610.97. The firm has a market capitalization of $214.58 billion, a PE ratio of 32.83, a P/E/G ratio of 3.27 and a beta of 0.77. The company’s 50 day simple moving average is $510.86 and its 200-day simple moving average is $457.75.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The firm had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. During the same quarter in the prior year, the firm earned $5.28 EPS. Thermo Fisher Scientific’s quarterly revenue was up 4.9% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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.