Sky Investment Group LLC Buys 942 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Sky Investment Group LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,072 shares of the medical research company’s stock after acquiring an additional 942 shares during the period. Thermo Fisher Scientific comprises about 1.7% of Sky Investment Group LLC’s investment portfolio, making the stock its 16th largest position. Sky Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $9,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth $27,000. Decker Retirement Planning Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at $43,000. HWG Holdings LP acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth about $50,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Thermo Fisher Scientific during the 3rd quarter worth about $50,000. 89.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock valued at $25,954,465 in the last quarter. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TMO has been the topic of a number of research reports. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research report on Friday, January 10th. Stifel Nicolaus decreased their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Evercore ISI cut their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $559.72 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The business has a 50 day simple moving average of $529.96 and a 200 day simple moving average of $568.56. The stock has a market cap of $214.09 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.71 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.69 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific 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.