Skye Global Management LP Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Skye Global Management LP grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the medical research company’s stock after buying an additional 5,000 shares during the period. Thermo Fisher Scientific accounts for approximately 0.9% of Skye Global Management LP’s holdings, making the stock its 17th biggest position. Skye Global Management LP’s holdings in Thermo Fisher Scientific were worth $37,114,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lafayette Investments Inc. increased its position in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after buying an additional 17 shares in the last quarter. IFG Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after buying an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after acquiring an additional 18 shares in the last quarter. Drive Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after purchasing an additional 18 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of Thermo Fisher Scientific by 1.0% during the second quarter. Quent Capital LLC now owns 1,886 shares of the medical research company’s stock valued at $1,043,000 after purchasing an additional 19 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Up 1.7 %

Shares of TMO opened at $521.66 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88. The stock has a market capitalization of $199.53 billion, a PE ratio of 32.71, a P/E/G ratio of 3.45 and a beta of 0.79. The company’s fifty day moving average is $568.01 and its 200 day moving average is $578.38. 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 (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $5.69 EPS. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a stock buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TMO. Bernstein Bank boosted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Stephens assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $649.33.

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.