New Mexico Educational Retirement Board Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

New Mexico Educational Retirement Board decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,262 shares of the medical research company’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in Thermo Fisher Scientific were worth $9,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth $27,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth $28,000. Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific during the 4th quarter worth $29,000. Finally, Endeavor Private Wealth Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TMO. Royal Bank of Canada decreased their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Robert W. Baird decreased their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Barclays decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $658.00.

Thermo Fisher Scientific Stock Down 0.0 %

TMO stock opened at $532.58 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market capitalization of $203.71 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. The firm’s 50-day moving average is $548.45 and its two-hundred day moving average is $571.01. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock worth $11,231,699 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific 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.