Maryland State Retirement & Pension System Sells 1,504 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Maryland State Retirement & Pension System trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,473 shares of the medical research company’s stock after selling 1,504 shares during the period. Maryland State Retirement & Pension System’s holdings in Thermo Fisher Scientific were worth $15,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Silicon Valley Capital Partners purchased a new stake in Thermo Fisher Scientific during the 1st quarter valued at approximately $29,000. OLD Mission Capital LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $31,000. Live Oak Investment Partners bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at $36,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $43,000. Finally, Barrett & Company Inc. purchased a new position in shares of Thermo Fisher Scientific during the first quarter valued at about $43,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.0 %

TMO opened at $515.53 on Friday. Thermo Fisher Scientific Inc. has a one year low of $475.77 and a one year high of $609.85. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.02 and a current ratio of 1.42. The stock has a market cap of $198.97 billion, a price-to-earnings ratio of 35.24, a P/E/G ratio of 2.43 and a beta of 0.77. The stock’s 50 day moving average price is $540.37 and its 200-day moving average price is $541.51.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 26th. The medical research company reported $5.15 earnings per share for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Thermo Fisher Scientific had a return on equity of 18.59% and a net margin of 13.14%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.51 EPS. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.57%.

Analyst Ratings Changes

A number of brokerages recently commented on TMO. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $664.00 to $625.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. Citigroup started coverage on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. They issued a “buy” rating and a $625.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 in a research report on Thursday, July 27th. KeyCorp reduced their target price on shares of Thermo Fisher Scientific from $710.00 to $640.00 in a report on Thursday, May 25th. Finally, Royal Bank of Canada lifted their price target on Thermo Fisher Scientific from $662.00 to $698.00 in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $631.71.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the transaction, the executive vice president now directly owns 17,556 shares in the company, valued at approximately $9,792,210.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Stephen Williamson sold 14,100 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $550.00, for a total transaction of $7,755,000.00. Following the transaction, the chief financial officer now directly owns 27,393 shares of the company’s stock, valued at $15,066,150. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total value of $1,673,310.00. Following the sale, the executive vice president now owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,700 shares of company stock worth $15,799,270. Company insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.