Grisanti Capital Management LLC Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Grisanti Capital Management LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,643 shares of the medical research company’s stock after selling 107 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.7% of Grisanti Capital Management LLC’s holdings, making the stock its 25th biggest position. Grisanti Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $3,126,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TMO. Cohen Lawrence B boosted its stake in Thermo Fisher Scientific by 2.0% in the 2nd quarter. Cohen Lawrence B now owns 10,185 shares of the medical research company’s stock worth $2,991,000 after purchasing an additional 195 shares during the period. Private Trust Co. NA boosted its stake in Thermo Fisher Scientific by 66.7% in the 2nd quarter. Private Trust Co. NA now owns 3,273 shares of the medical research company’s stock worth $961,000 after purchasing an additional 1,310 shares during the period. Parallel Advisors LLC boosted its stake in Thermo Fisher Scientific by 4.4% in the 1st quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock worth $2,578,000 after purchasing an additional 393 shares during the period. Barrett Asset Management LLC boosted its stake in Thermo Fisher Scientific by 0.4% in the 1st quarter. Barrett Asset Management LLC now owns 111,500 shares of the medical research company’s stock worth $30,520,000 after purchasing an additional 395 shares during the period. Finally, Gateway Investment Advisers LLC boosted its stake in Thermo Fisher Scientific by 45.5% in the 2nd quarter. Gateway Investment Advisers LLC now owns 38,146 shares of the medical research company’s stock worth $11,203,000 after purchasing an additional 11,928 shares during the period. 88.21% of the stock is owned by institutional investors.

Several research firms have weighed in on TMO. Needham & Company LLC upped their price target on Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a research note on Wednesday, June 12th. Credit Suisse Group restated a “buy” rating and issued a $310.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday, July 31st. Wolfe Research assumed coverage on Thermo Fisher Scientific in a research report on Thursday, May 30th. They set an “outperform” rating for the company. Finally, BTIG Research increased their target price on Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $303.17.

In related news, Director C Martin Harris sold 275 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total value of $74,450.75. Following the completion of the sale, the director now directly owns 6,433 shares in the company, valued at $1,741,606.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total value of $14,241,500.00. Following the completion of the sale, the chief executive officer now owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,775 shares of company stock valued at $14,986,676. 0.45% of the stock is owned by corporate insiders.

Shares of NYSE TMO traded up $2.84 during midday trading on Friday, reaching $276.15. 992,900 shares of the stock traded hands, compared to its average volume of 1,599,691. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07. The stock has a market capitalization of $107.92 billion, a PE ratio of 22.99, a P/E/G ratio of 1.76 and a beta of 1.11. Thermo Fisher Scientific Inc. has a one year low of $208.34 and a one year high of $305.45. The company’s 50 day moving average is $286.98 and its 200 day moving average is $272.14.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.03. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 EPS. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 12.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be given a $0.19 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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