Sky Investment Group LLC Has $10.60 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sky Investment Group LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,130 shares of the medical research company’s stock after selling 599 shares during the period. Thermo Fisher Scientific accounts for approximately 1.9% of Sky Investment Group LLC’s portfolio, making the stock its 12th biggest position. Sky Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $10,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TMO. Vanguard Group Inc. boosted its holdings in shares of Thermo Fisher Scientific by 0.4% in the first quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after buying an additional 117,353 shares during the period. Capital World Investors lifted its position in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Thermo Fisher Scientific by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after purchasing an additional 156,675 shares during the period. Capital Research Global Investors raised its stake in shares of Thermo Fisher Scientific by 1.5% in the 1st quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock valued at $4,715,436,000 after purchasing an additional 123,523 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

TMO traded down $7.12 on Tuesday, reaching $588.25. The company had a trading volume of 366,247 shares, compared to its average volume of 1,458,800. The company’s fifty day moving average is $607.91 and its 200 day moving average is $584.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock has a market cap of $224.71 billion, a P/E ratio of 36.93, a P/E/G ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same period last year, the firm posted $5.15 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMO. Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price for the company. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Barclays increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $656.16.

About Thermo Fisher Scientific

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.