State of New Jersey Common Pension Fund D Trims Stock Position in Thermo Fisher Scientific Inc. $TMO

State of New Jersey Common Pension Fund D lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 127,924 shares of the medical research company’s stock after selling 620 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Thermo Fisher Scientific were worth $51,868,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC raised its position in shares of Thermo Fisher Scientific by 137.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock valued at $28,000 after buying an additional 33 shares during the period. Anderson Financial Strategies LLC purchased a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $30,000. Keystone Global Partners LLC purchased a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $31,000. DiNuzzo Private Wealth Inc. raised its position in Thermo Fisher Scientific by 406.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 61 shares during the period. Finally, HighMark Wealth Management LLC raised its position in Thermo Fisher Scientific by 140.6% in the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TMO. Barclays boosted 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. Robert W. Baird boosted their price target 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. Cowen restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday. Finally, Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Nineteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $595.75.

Insider Transactions at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 385 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $492.63, for a total value of $189,662.55. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 400 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $500.50, for a total transaction of $200,200.00. Following the completion of the sale, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at $56,937,881. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,666 shares of company stock valued at $13,990,971 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $573.07 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $504.04 and a 200 day moving average price of $453.30. The company has a market cap of $216.40 billion, a P/E ratio of 33.11, a PEG ratio of 3.24 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The company had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the prior year, the firm posted $5.28 earnings per share. Thermo Fisher Scientific’s revenue for the quarter 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. Sell-side analysts predict 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.