Grisanti Capital Management LLC Has $5.83 Million Position in Thermo Fisher Scientific Inc. (TMO)

Grisanti Capital Management LLC lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,893 shares of the medical research company’s stock after selling 4,284 shares during the period. Thermo Fisher Scientific makes up approximately 2.9% of Grisanti Capital Management LLC’s portfolio, making the stock its 12th largest position. Grisanti Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $5,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $103,000. Horrell Capital Management Inc. bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $104,000. Edge Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 8,077.8% during the second quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock valued at $152,000 after acquiring an additional 727 shares in the last quarter. Atlantic Trust LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $154,000. Finally, Summit Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $201,000. 85.22% of the stock is owned by institutional investors.

Several brokerages recently issued reports on TMO. Barclays raised their target price on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, September 24th. Goldman Sachs Group cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Monday, September 17th. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price on the stock in a report on Monday, October 1st. UBS Group began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $230.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $261.45.

In other news, CEO Marc N. Casper sold 125,520 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.49% of the company’s stock.

Shares of TMO stock opened at $245.53 on Thursday. Thermo Fisher Scientific Inc. has a 12-month low of $181.51 and a 12-month high of $249.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84. The company has a market capitalization of $94.34 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.70 and a beta of 1.08.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company posted $2.31 earnings per share. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback program on Friday, September 7th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics 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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