Truist Financial Corp Decreases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Truist Financial Corp decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 157,314 shares of the medical research company’s stock after selling 36,454 shares during the quarter. Truist Financial Corp’s holdings in Thermo Fisher Scientific were worth $83,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Thermo Fisher Scientific by 61,995.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after purchasing an additional 1,008,045 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of Thermo Fisher Scientific by 17,046.7% in the third quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock valued at $492,803,000 after purchasing an additional 967,913 shares during the period. Rathbones Group PLC increased its holdings in shares of Thermo Fisher Scientific by 111.0% in the third quarter. Rathbones Group PLC now owns 568,970 shares of the medical research company’s stock valued at $287,996,000 after purchasing an additional 299,338 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Thermo Fisher Scientific by 20.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,706,179 shares of the medical research company’s stock valued at $863,617,000 after purchasing an additional 287,446 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Thermo Fisher Scientific by 9.8% in the third quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock valued at $1,559,351,000 after purchasing an additional 274,464 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TMO. Citigroup began coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. Barclays lifted their price target on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI lifted their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Finally, Raymond James lifted their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $606.76.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded up $1.87 on Friday, hitting $573.60. The company had a trading volume of 1,438,184 shares, compared to its average volume of 1,317,052. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The business has a 50 day moving average of $573.60 and a 200 day moving average of $529.90. The company has a market cap of $218.95 billion, a PE ratio of 36.79, a PEG ratio of 2.41 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.54 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.39 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,039,491.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,277 shares of company stock worth $28,513,384. 0.32% 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.