New York State Teachers Retirement System Trims Holdings in Thermo Fisher Scientific Inc. $TMO

New York State Teachers Retirement System cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 306,761 shares of the medical research company’s stock after selling 6,767 shares during the period. New York State Teachers Retirement System’s holdings in Thermo Fisher Scientific were worth $148,785,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TMO. Atlantic Edge Private Wealth Management LLC grew its stake in Thermo Fisher Scientific by 1.4% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 5,033 shares of the medical research company’s stock worth $2,441,000 after purchasing an additional 70 shares in the last quarter. Warwick Investment Management Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter worth about $220,000. Forum Financial Management LP increased its position in Thermo Fisher Scientific by 1.2% during the 3rd quarter. Forum Financial Management LP now owns 2,347 shares of the medical research company’s stock valued at $1,138,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management boosted its stake in shares of Thermo Fisher Scientific by 16.5% during the third quarter. Hemington Wealth Management now owns 488 shares of the medical research company’s stock valued at $236,000 after purchasing an additional 69 shares in the last quarter. Finally, ORG Partners LLC raised its stake in Thermo Fisher Scientific by 13.4% in the third quarter. ORG Partners LLC now owns 746 shares of the medical research company’s stock worth $362,000 after buying an additional 88 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the sale, the chief operating officer owned 65,480 shares in the company, valued at approximately $38,200,377.20. This represents a 32.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 149,271 shares of company stock worth $86,507,282. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $619.14 on Friday. The company has a market cap of $232.62 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 4.07 and a beta of 0.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The stock’s fifty day moving average price is $581.35 and its 200 day moving average price is $517.34. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $628.08.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share 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 business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. During the same period in the prior year, the company earned $5.28 earnings per share. The company’s 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. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. TD Cowen lifted their price target on Thermo Fisher Scientific from $654.00 to $696.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a report on Sunday, December 7th. Evercore ISI reaffirmed an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Stifel Nicolaus raised their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday. Finally, Redburn Partners set a $580.00 price objective on Thermo Fisher Scientific in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $625.47.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.