California Public Employees Retirement System Buys 117,491 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

California Public Employees Retirement System boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,058,216 shares of the medical research company’s stock after purchasing an additional 117,491 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Thermo Fisher Scientific worth $561,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in Thermo Fisher Scientific by 61,995.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after purchasing an additional 1,008,045 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Thermo Fisher Scientific by 17,046.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock worth $492,803,000 after acquiring an additional 967,913 shares in the last quarter. Rathbones Group PLC lifted its stake in Thermo Fisher Scientific by 111.0% in the 3rd quarter. Rathbones Group PLC now owns 568,970 shares of the medical research company’s stock valued at $287,996,000 after purchasing an additional 299,338 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Thermo Fisher Scientific by 20.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,706,179 shares of the medical research company’s stock worth $863,617,000 after acquiring an additional 287,446 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Thermo Fisher Scientific by 9.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock worth $1,559,351,000 after acquiring an additional 274,464 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of TMO traded up $3.59 during midday trading on Monday, reaching $548.37. The stock had a trading volume of 1,522,828 shares, compared to its average volume of 1,549,515. The firm’s 50 day moving average price is $571.27 and its 200-day moving average price is $527.83. The company has a market capitalization of $209.32 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.30 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 1.39.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, beating the consensus estimate of $5.64 by $0.03. The company had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.40 EPS. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.51 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.39 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific’s payout ratio is presently 10.10%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $74,039,491.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock valued at $28,513,384 in the last quarter. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays cut Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Evercore ISI boosted their target price on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Finally, The Goldman Sachs Group lifted their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $604.69.

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.