Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,229 shares of the medical research company's stock after selling 6,419 shares during the quarter. Truist Financial Corp's holdings in Thermo Fisher Scientific were worth $64,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth $25,000. Pillar Financial Advisors LLC bought a new position in Thermo Fisher Scientific in the fourth quarter worth about $29,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 89.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock worth $36,000 after acquiring an additional 33 shares in the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $36,000. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Down 2.5%

Shares of TMO traded down $10.57 during trading on Monday, reaching $418.76. 2,497,096 shares of the company traded hands, compared to its average volume of 1,976,560. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $409.18 and a 200-day simple moving average of $479.39. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The stock has a market cap of $158.08 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 2.28 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the firm earned $5.11 earnings per share. The business's quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TMO. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. UBS Group dropped their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird lowered 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 research note on Thursday, April 24th. Evercore ISI dropped their price objective on shares of 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, Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Four equities 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, the company presently has an average rating of "Moderate Buy" and an average target price of $604.05.

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.