Kennedy Investment Group Sells 23 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Kennedy Investment Group reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 433 shares of the medical research company’s stock after selling 23 shares during the quarter. Kennedy Investment Group’s holdings in Thermo Fisher Scientific were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TMO. Capital World Investors grew its stake in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB bought a new position in shares of Thermo Fisher Scientific in the first quarter valued at $705,636,000. Ameriprise Financial Inc. grew its stake 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 buying an additional 604,895 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after buying an additional 296,646 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Thermo Fisher Scientific by 31.9% in the second quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock valued at $565,316,000 after buying an additional 247,110 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TMO. Raymond James raised their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Bank of America lifted their price objective 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. Finally, Stifel Nicolaus lifted their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $656.16.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $74,548,375.44. 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 currently owned by insiders.

Thermo Fisher Scientific Price Performance

NYSE TMO traded down $6.19 during trading on Monday, hitting $595.52. 346,489 shares of the company’s stock were exchanged, compared to its average volume of 1,461,189. The company has a market cap of $227.49 billion, a PE ratio of 37.33, a P/E/G ratio of 3.85 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The stock’s 50 day moving average price is $607.99 and its two-hundred day moving average price is $584.23.

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

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.