Sky Investment Group LLC Sells 599 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Sky Investment Group LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,130 shares of the medical research company’s stock after selling 599 shares during the quarter. Thermo Fisher Scientific makes up 1.9% of Sky Investment Group LLC’s investment portfolio, making the stock its 12th largest holding. Sky Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $10,596,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in Thermo Fisher Scientific during the 1st quarter valued at approximately $81,000. Inspirion Wealth Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $203,000. Sarasin & Partners LLP grew its stake in shares of Thermo Fisher Scientific by 10.5% in the first quarter. Sarasin & Partners LLP now owns 459,793 shares of the medical research company’s stock worth $267,236,000 after acquiring an additional 43,678 shares during the last quarter. First Financial Corp IN raised its stake in Thermo Fisher Scientific by 1.4% during the 1st quarter. First Financial Corp IN now owns 2,136 shares of the medical research company’s stock valued at $1,241,000 after purchasing an additional 30 shares during the last quarter. Finally, Prentice Wealth Management LLC grew its position in Thermo Fisher Scientific by 8.4% in the 1st quarter. Prentice Wealth Management LLC now owns 894 shares of the medical research company’s stock worth $520,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded down $7.12 during trading on Tuesday, reaching $588.25. The company’s stock had a trading volume of 366,247 shares, compared to its average volume of 1,458,800. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88. The stock has a 50-day moving average price of $607.91 and a two-hundred day moving average price of $584.40. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $224.71 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77.

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

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. 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 at the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction on Monday, July 29th. The stock was 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. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last 90 days. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TMO has been the subject of several research reports. Stifel Nicolaus increased their target price on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Bank of America lifted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Evercore ISI upped their target price on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Finally, 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 price objective for the company. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price 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.