Sky Investment Group LLC Grows Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sky Investment Group LLC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,295 shares of the medical research company’s stock after purchasing an additional 223 shares during the quarter. Thermo Fisher Scientific comprises about 1.7% of Sky Investment Group LLC’s portfolio, making the stock its 18th largest holding. Sky Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $9,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMO. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $25,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. Pillar Financial Advisors LLC purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Ameriflex Group Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC purchased a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $35,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $414.85 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year 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. The company’s fifty day moving average price is $417.11 and its 200 day moving average price is $493.15. The stock has a market capitalization of $156.60 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.99 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $5.11 earnings per share. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of recent research reports. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Citigroup dropped their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Argus dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $605.30.

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.