Cranbrook Wealth Management LLC Sells 29 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cranbrook Wealth Management LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,044 shares of the medical research company’s stock after selling 29 shares during the period. Cranbrook Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $519,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TMO. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth $25,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth $28,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $28,000. Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $29,000. Finally, Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. 89.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at approximately $5,759,736.32. The trade was a 25.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $401.99 on Friday. The business’s 50 day moving average price is $420.74 and its 200 day moving average price is $495.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company has a market cap of $151.75 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.11 earnings per share. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.43%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.09%.

Analysts Set New Price Targets

TMO has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company lowered their price target on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Citigroup lowered their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $605.30.

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.