Fifth Third Bancorp Buys 12,328 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Fifth Third Bancorp boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 347,381 shares of the medical research company's stock after acquiring an additional 12,328 shares during the quarter. Fifth Third Bancorp owned 0.09% of Thermo Fisher Scientific worth $172,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Simon Quick Advisors LLC grew its stake in Thermo Fisher Scientific by 33.0% in the first quarter. Simon Quick Advisors LLC now owns 3,418 shares of the medical research company's stock valued at $1,701,000 after purchasing an additional 848 shares in the last quarter. Transform Wealth LLC grew its stake in shares of Thermo Fisher Scientific by 1.6% in the 1st quarter. Transform Wealth LLC now owns 11,458 shares of the medical research company's stock valued at $5,706,000 after buying an additional 183 shares in the last quarter. My Legacy Advisors LLC raised its position in Thermo Fisher Scientific by 1.9% during the first quarter. My Legacy Advisors LLC now owns 2,486 shares of the medical research company's stock valued at $1,237,000 after acquiring an additional 46 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Thermo Fisher Scientific in the first quarter worth approximately $205,000. Finally, CX Institutional increased its stake in shares of Thermo Fisher Scientific by 2.0% during the 1st quarter. CX Institutional now owns 10,156 shares of the medical research company's stock worth $5,053,000 after purchasing an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction 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. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. UBS Group lowered their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada reduced their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Evercore ISI lowered their price target on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $605.30.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded down $12.13 during trading hours on Friday, hitting $402.77. The stock had a trading volume of 1,658,226 shares, compared to its average volume of 2,341,564. Thermo Fisher Scientific Inc. has a fifty-two week low of $390.49 and a fifty-two week high of $627.88. The company has a market cap of $152.04 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78. The company has a 50-day moving average of $417.11 and a two-hundred day moving average of $493.15. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly 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 firm 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.11 earnings per share. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

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.