Police & Firemen s Retirement System of New Jersey Raises Stock Position in Thermo Fisher Scientific Inc. $TMO

Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 57,367 shares of the medical research company’s stock after acquiring an additional 1,777 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Thermo Fisher Scientific were worth $23,260,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Flossbach Von Storch SE boosted its stake in Thermo Fisher Scientific by 93.0% during the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after buying an additional 1,314,182 shares during the period. Nuveen LLC purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $532,360,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Thermo Fisher Scientific by 29.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,257,424 shares of the medical research company’s stock valued at $915,295,000 after purchasing an additional 514,399 shares during the last quarter. EdgePoint Investment Group Inc. bought a new stake in Thermo Fisher Scientific in the first quarter worth about $172,139,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Thermo Fisher Scientific by 13.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,750,923 shares of the medical research company’s stock valued at $1,368,859,000 after buying an additional 329,974 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $588.53 on Thursday. The company has a market capitalization of $221.12 billion, a PE ratio of 34.00, a P/E/G ratio of 3.27 and a beta of 0.82. The company has a 50-day simple moving average of $524.35 and a two-hundred day simple moving average of $465.87. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $610.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be given a dividend of $0.43 per share. 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 currently 9.94%.

Thermo Fisher Scientific announced that its board has authorized a stock buyback plan 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently issued reports on TMO. JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Robert W. Baird upped their target price on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Evercore ISI lifted their price target on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. William Blair assumed coverage on Thermo Fisher Scientific in a research note on Monday, August 18th. They issued an “outperform” rating on the stock. Finally, Barclays lifted their target price on Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Nineteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $601.65.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 7,250 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the sale, the chief executive officer owned 113,762 shares in the company, valued at approximately $64,400,668.20. The trade was a 5.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $574.15, for a total transaction of $229,660.00. Following the completion of the sale, the executive vice president owned 21,152 shares of the company’s stock, valued at $12,144,420.80. This trade represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,645 shares of company stock worth $25,825,699 in the last three months. Insiders own 0.33% of the company’s stock.

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.