Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Increased by Skye Global Management LP

Skye Global Management LP boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 77.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 106,500 shares of the medical research company’s stock after buying an additional 46,500 shares during the period. Thermo Fisher Scientific makes up approximately 1.2% of Skye Global Management LP’s investment portfolio, making the stock its 16th largest position. Skye Global Management LP’s holdings in Thermo Fisher Scientific were worth $55,404,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $3,149,754,000. T. Rowe Price Investment Management Inc. lifted its position in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock worth $1,604,338,000 after buying an additional 1,433,444 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock valued at $469,889,000 after buying an additional 858,193 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 68,617.0% during the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock valued at $396,810,000 after acquiring an additional 761,649 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $377,901,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 0.4%

Shares of Thermo Fisher Scientific stock opened at $404.27 on Friday. The company has a market cap of $152.61 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.99 and a beta of 0.82. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The company’s fifty day simple moving average is $455.92 and its 200-day simple moving average is $511.36. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same quarter in the prior year, the business earned $5.11 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific’s payout ratio is currently 10.09%.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Argus dropped their price target 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. Finally, UBS Group reduced their price objective on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $607.43.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,075 shares of company stock valued at $7,305,942 over the last ninety days. 0.33% of the stock is owned by company 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.