Truist Financial Corp Trims Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Truist Financial Corp decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Strategic Blueprint LLC grew its position in shares of Thermo Fisher Scientific by 7.8% during the third quarter. Strategic Blueprint LLC now owns 1,124 shares of the medical research company’s stock worth $569,000 after purchasing an additional 81 shares in the last quarter. Apeiron RIA LLC grew its position in shares of Thermo Fisher Scientific by 4.8% during the third quarter. Apeiron RIA LLC now owns 671 shares of the medical research company’s stock worth $340,000 after purchasing an additional 31 shares in the last quarter. First Personal Financial Services grew its position in shares of Thermo Fisher Scientific by 1.9% during the third quarter. First Personal Financial Services now owns 19,621 shares of the medical research company’s stock worth $9,932,000 after purchasing an additional 359 shares in the last quarter. MCF Advisors LLC grew its holdings in Thermo Fisher Scientific by 59.7% during the 3rd quarter. MCF Advisors LLC now owns 1,817 shares of the medical research company’s stock valued at $920,000 after buying an additional 679 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Thermo Fisher Scientific by 2.1% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 8,606 shares of the medical research company’s stock valued at $4,356,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now directly owns 1,207 shares in the company, valued at approximately $660,192.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the transaction, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock worth $28,513,384 in the last ninety days. 0.32% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Up 0.3 %

Shares of TMO stock traded up $1.87 on Friday, reaching $573.60. 1,438,184 shares of the company’s stock were exchanged, compared to its average volume of 1,317,052. The company’s fifty day simple moving average is $573.60 and its 200 day simple moving average is $529.90. The stock has a market capitalization of $218.95 billion, a PE ratio of 36.79, a P/E/G ratio of 2.41 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82. 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 (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The company 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, analysts forecast that Thermo Fisher Scientific Inc. will post 21.54 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.39 per share. This is an increase 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 of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Analyst Ratings Changes

TMO has been the subject of several research analyst reports. Robert W. Baird cut their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday. Citigroup initiated coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They set a “neutral” rating and a $620.00 price target for the company. Royal Bank of Canada raised their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Evercore ISI raised their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Raymond James raised their price objective 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $606.76.

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.