Cranbrook Wealth Management LLC Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cranbrook Wealth Management LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1,525.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,073 shares of the medical research company’s stock after buying an additional 1,007 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $593,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TMO. Signature Resources Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the period. True Wealth Design LLC grew its stake in Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC grew its stake in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the last quarter. Finally, LifeSteps Financial Inc. purchased a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $31,000. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Stifel Nicolaus increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $632.89.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $614.01 on Tuesday. The company has a 50-day moving average price of $593.66 and a 200 day moving average price of $580.53. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a market cap of $234.38 billion, a P/E ratio of 39.38, a PEG ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the prior year, the company earned $5.15 EPS. Thermo Fisher Scientific’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.