Truist Financial Corp Sells 1,962 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Truist Financial Corp has reduced its stake in Thermo Fisher Scientific Inc. by selling 1,962 shares, now holding 128,267 shares valued at approximately $52 million.
• Several hedge funds, including Vanguard Group Inc. and Amundi, have increased their positions in Thermo Fisher during the first quarter, indicating growing institutional interest.
• Thermo Fisher recently declared a quarterly dividend of $0.43 per share, with a payout ratio of 9.95%, to be distributed on October 15th.

Truist Financial Corp trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,267 shares of the medical research company's stock after selling 1,962 shares during the period. Truist Financial Corp's holdings in Thermo Fisher Scientific were worth $52,007,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Thermo Fisher Scientific by 0.7% during the first quarter. Vanguard Group Inc. now owns 33,479,957 shares of the medical research company's stock valued at $16,659,627,000 after buying an additional 230,382 shares during the last quarter. Amundi raised its position in shares of Thermo Fisher Scientific by 5.9% during the first quarter. Amundi now owns 3,029,044 shares of the medical research company's stock valued at $1,426,316,000 after buying an additional 168,197 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Thermo Fisher Scientific by 4.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,925,591 shares of the medical research company's stock valued at $1,455,774,000 after buying an additional 115,463 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Thermo Fisher Scientific by 7.2% during the first quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock valued at $1,432,816,000 after buying an additional 193,378 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Thermo Fisher Scientific by 13.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,750,923 shares of the medical research company's stock valued at $1,368,859,000 after buying an additional 329,974 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Joseph R. Holmes sold 385 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the sale, the chief accounting officer directly owned 2,319 shares of the company's stock, valued at $1,142,408.97. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 400 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $500.50, for a total transaction of $200,200.00. Following the sale, the chief executive officer directly owned 113,762 shares in the company, valued at $56,937,881. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,066 shares of company stock valued at $14,182,963 over the last three months. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. HSBC reissued a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. UBS Group increased their price target on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $561.00 price target on shares of Thermo Fisher Scientific and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Hsbc Global Res lowered shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Robert W. Baird increased their price target on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $583.53.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $531.69 on Thursday. The firm has a market cap of $200.77 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.63 and a beta of 0.77. The company has a 50 day moving average of $480.27 and a 200-day moving average of $447.56. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $616.57.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.14. The company had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $5.37 earnings per share. Thermo Fisher Scientific has set its Q3 2025 guidance at 5.460-5.510 EPS. FY 2025 guidance at 22.220-22.840 EPS. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is 9.95%.

Thermo Fisher Scientific 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.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.