Public Employees Retirement System of Ohio Has $106.28 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Public Employees Retirement System of Ohio lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 171,816 shares of the medical research company’s stock after selling 1,219 shares during the period. Public Employees Retirement System of Ohio’s holdings in Thermo Fisher Scientific were worth $106,280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp raised its holdings in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. FMR LLC raised its holdings in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after acquiring an additional 1,294,453 shares during the period. Fisher Asset Management LLC raised its holdings in Thermo Fisher Scientific by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock worth $1,630,896,000 after acquiring an additional 65,586 shares during the period. Ameriprise Financial Inc. raised its holdings in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Thermo Fisher Scientific by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,443,937 shares of the medical research company’s stock worth $1,511,746,000 after acquiring an additional 61,017 shares during the period. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Bank of America raised their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird decreased their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Buying and Selling

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock valued at $25,954,465 over the last ninety days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.6 %

Shares of NYSE TMO opened at $529.36 on Monday. Thermo Fisher Scientific Inc. has a 1-year low of $488.02 and a 1-year high of $627.88. The company has a market cap of $202.48 billion, a PE ratio of 33.19, a P/E/G ratio of 3.56 and a beta of 0.77. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $558.08 and a two-hundred day moving average of $575.41.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.69 earnings per share. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific declared that its board has authorized a stock buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.