Renaissance Investment Group LLC Acquires 28 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Renaissance Investment Group LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 26,835 shares of the medical research company’s stock after acquiring an additional 28 shares during the quarter. Thermo Fisher Scientific accounts for approximately 3.5% of Renaissance Investment Group LLC’s holdings, making the stock its 7th largest position. Renaissance Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $16,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CHICAGO TRUST Co NA grew its stake in Thermo Fisher Scientific by 3.9% during the third quarter. CHICAGO TRUST Co NA now owns 1,721 shares of the medical research company’s stock worth $1,065,000 after buying an additional 64 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Thermo Fisher Scientific by 8.0% during the third quarter. Exchange Traded Concepts LLC now owns 2,137 shares of the medical research company’s stock worth $1,322,000 after buying an additional 159 shares in the last quarter. Compton Wealth Advisory Group LLC grew its stake in Thermo Fisher Scientific by 1.4% during the third quarter. Compton Wealth Advisory Group LLC now owns 2,072 shares of the medical research company’s stock worth $1,282,000 after buying an additional 28 shares in the last quarter. Carnegie Investment Counsel grew its stake in Thermo Fisher Scientific by 6.1% during the third quarter. Carnegie Investment Counsel now owns 58,225 shares of the medical research company’s stock worth $36,016,000 after buying an additional 3,372 shares in the last quarter. Finally, Annex Advisory Services LLC grew its stake in Thermo Fisher Scientific by 6.4% during the third quarter. Annex Advisory Services LLC now owns 8,572 shares of the medical research company’s stock worth $5,302,000 after buying an additional 515 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific 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 sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $596.92 on Friday. The company has a market capitalization of $228.02 billion, a PE ratio of 37.03, a P/E/G ratio of 3.80 and a beta of 0.77. The company has a 50 day simple moving average of $607.73 and a two-hundred day simple moving average of $583.44. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.15 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of analyst reports. Evercore ISI increased their price objective on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird increased their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen increased their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock 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.