Crestwood Advisors Group LLC Sells 6,929 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Crestwood Advisors Group LLC cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,829 shares of the medical research company’s stock after selling 6,929 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.1% of Crestwood Advisors Group LLC’s holdings, making the stock its 29th biggest position. Crestwood Advisors Group LLC’s holdings in Thermo Fisher Scientific were worth $56,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. Cypress Advisory Group LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $253,000. GAMMA Investing LLC lifted its holdings in Thermo Fisher Scientific by 22.0% during the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company’s stock valued at $2,419,000 after purchasing an additional 877 shares during the last quarter. Deutsche Bank AG lifted its holdings in Thermo Fisher Scientific by 9.5% during the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company’s stock valued at $687,553,000 after purchasing an additional 114,277 shares during the last quarter. Hancock Whitney Corp lifted its holdings in shares of Thermo Fisher Scientific by 0.6% during the fourth quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company’s stock worth $2,802,000 after buying an additional 30 shares in the last quarter. Finally, Cetera Trust Company N.A lifted its holdings in shares of Thermo Fisher Scientific by 3.3% during the first quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company’s stock worth $2,312,000 after buying an additional 150 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president directly owned 23,167 shares of the company’s stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TMO shares. Argus dropped their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus dropped their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Scotiabank raised Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 price target for the company in a research note on Friday, July 11th. Finally, Evercore ISI dropped their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $599.30.

Thermo Fisher Scientific Trading Down 2.1%

NYSE TMO opened at $406.20 on Monday. The firm has a market capitalization of $153.34 billion, a P/E ratio of 23.82, a PEG ratio of 2.21 and a beta of 0.77. The business has a fifty day simple moving average of $410.38 and a 200 day simple moving average of $472.32. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $627.88. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the firm posted $5.11 EPS. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

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.