Thermo Fisher Scientific Inc. $TMO Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,248 shares of the medical research company’s stock after acquiring an additional 4,324 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Thermo Fisher Scientific were worth $64,143,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $2,264,615,000. Soundwatch Capital LLC acquired a new position in Thermo Fisher Scientific during the second quarter worth $807,713,000. Flossbach Von Storch SE lifted its holdings 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 valued at $1,105,698,000 after purchasing an additional 1,314,182 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Thermo Fisher Scientific by 54.7% during the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in shares of Thermo Fisher Scientific by 282.5% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after purchasing an additional 977,127 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target on the stock. UBS Group reiterated a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Argus boosted their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the transaction, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This represents a 36.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. This represents a 32.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 108,996 shares of company stock valued at $63,355,935. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $504.99 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock has a market cap of $189.73 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.93. The business has a fifty day moving average of $585.45 and a two-hundred day moving average of $544.55.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.10 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows 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 shares are undervalued.

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.