Midland Wealth Advisors LLC Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Midland Wealth Advisors LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 455 shares of the medical research company’s stock after selling 31 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TMO. Bernard Wealth Management Corp. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $25,000. FPC Investment Advisory Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $28,000. Pillar Financial Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $29,000. Ameriflex Group Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $30,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $35,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Robert W. Baird reduced their price target on shares of 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. Barclays reduced their target price on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Finally, Scotiabank reduced their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating on the stock in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $605.30.

Thermo Fisher Scientific Stock Up 1.7%

Shares of NYSE:TMO opened at $408.57 on Tuesday. The company’s fifty day moving average is $419.12 and its two-hundred day moving average is $494.94. The stock has a market capitalization of $154.23 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 1-year low of $390.50 and a 1-year high of $627.88.

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, topping the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.11 earnings per share. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a yield of 0.42%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

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.