New York State Teachers Retirement System Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

New York State Teachers Retirement System reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,496 shares of the medical research company’s stock after selling 13,819 shares during the period. New York State Teachers Retirement System owned about 0.09% of Thermo Fisher Scientific worth $214,951,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Claro Advisors LLC bought a new stake in Thermo Fisher Scientific in the first quarter valued at $345,000. Allspring Global Investments Holdings LLC lifted its holdings in Thermo Fisher Scientific by 40.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 125,565 shares of the medical research company’s stock worth $72,980,000 after buying an additional 36,169 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 6.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 4,031 shares of the medical research company’s stock worth $2,343,000 after acquiring an additional 247 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of Thermo Fisher Scientific by 23.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,981 shares of the medical research company’s stock valued at $2,895,000 after purchasing an additional 945 shares during the period. Finally, Oak Harvest Investment Services purchased a new stake in Thermo Fisher Scientific in the first quarter worth $266,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $4.61 during midday trading on Wednesday, reaching $552.38. 113,183 shares of the company’s stock traded hands, compared to its average volume of 1,460,109. The stock’s 50-day moving average is $602.70 and its 200 day moving average is $583.80. The stock has a market cap of $211.01 billion, a P/E ratio of 34.35, a PEG ratio of 3.66 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $433.15 and a 52-week high of $627.88. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the business earned $5.69 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Bernstein Bank upped their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Bank of America upped their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Sanford C. Bernstein dropped their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Redburn Atlantic started coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price target for the company. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $649.33.

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.