Crestwood Advisors Group LLC Purchases 4,484 Shares of Thermo Fisher Scientific Inc. $TMO

Crestwood Advisors Group LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,793 shares of the medical research company’s stock after purchasing an additional 4,484 shares during the period. Crestwood Advisors Group LLC’s holdings in Thermo Fisher Scientific were worth $48,400,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC lifted its stake in Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares during the period. Capital A Wealth Management LLC boosted its stake in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after acquiring an additional 66 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at $31,000. Howard Hughes Medical Institute acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research reports. Evercore reissued an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. Citigroup raised their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, TD Cowen lowered their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $504.99 on Tuesday. The company has a market cap of $189.73 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $584.19 and its two-hundred day simple moving average is $545.29. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $6.10 EPS. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederick M. Lowery sold 6,913 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president owned 14,367 shares in the company, valued at approximately $8,586,868.56. This trade represents a 32.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 108,996 shares of company stock worth $63,355,935 in the last three months. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.