Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Reduced by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 18,262 shares of the medical research company’s stock after selling 400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Thermo Fisher Scientific were worth $9,500,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth $42,409,000. Creative Planning increased its stake in shares of Thermo Fisher Scientific by 3.1% during the 3rd quarter. Creative Planning now owns 101,174 shares of the medical research company’s stock worth $62,583,000 after purchasing an additional 3,072 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Thermo Fisher Scientific by 15.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,209 shares of the medical research company’s stock worth $1,985,000 after purchasing an additional 431 shares during the last quarter. Hengehold Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 31.0% during the 3rd quarter. Hengehold Capital Management LLC now owns 524 shares of the medical research company’s stock worth $324,000 after purchasing an additional 124 shares during the last quarter. Finally, Good Life Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 35.6% during the 3rd quarter. Good Life Advisors LLC now owns 621 shares of the medical research company’s stock worth $384,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $532.58 on Friday. The company has a 50-day moving average of $548.45 and a 200-day moving average of $571.01. The company has a market capitalization of $203.71 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data 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%. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase 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 reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays decreased their price objective 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. 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. Scotiabank upped their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Finally, Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Four research 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 company currently has an average rating of “Moderate Buy” and an average price target of $658.00.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 in the last quarter. 0.34% of the stock is owned by corporate insiders.

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.