Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Renaissance Investment Group LLC

Renaissance Investment Group LLC lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,835 shares of the medical research company’s stock after buying an additional 28 shares during the quarter. Thermo Fisher Scientific comprises approximately 3.5% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 7th biggest holding. Renaissance Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $16,599,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Thermo Fisher Scientific by 0.4% during the first quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after purchasing an additional 117,353 shares during the period. Capital World Investors grew its holdings in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Thermo Fisher Scientific by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after purchasing an additional 156,675 shares during the period. Capital Research Global Investors grew its holdings in Thermo Fisher Scientific by 1.5% during the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock valued at $4,715,436,000 after purchasing an additional 123,523 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $596.92 on Friday. 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 firm’s fifty day moving average price is $607.73 and its two-hundred day moving average price is $583.44. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The firm has a market capitalization of $228.02 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 3.80 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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 firm posted $5.15 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,860,920.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,860,920.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Raymond James upped their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays reduced their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $653.72.

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.