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

Truist Financial Corp decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,229 shares of the medical research company's stock after selling 6,419 shares during the period. 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 added to or reduced their stakes in TMO. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $25,000. Pillar Financial Advisors LLC bought a new position in Thermo Fisher Scientific during the fourth quarter worth $29,000. Ameriflex Group Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 89.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock worth $36,000 after purchasing an additional 33 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth $36,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Down 2.3%

Shares of Thermo Fisher Scientific stock traded down $9.84 during trading on Monday, hitting $419.49. The company's stock had a trading volume of 543,755 shares, compared to its average volume of 1,969,638. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The company has a fifty day simple moving average of $409.18 and a two-hundred day simple moving average of $479.39. The company has a market capitalization of $158.35 billion, a PE ratio of 24.68, a P/E/G ratio of 2.28 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The business's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.11 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's payout ratio is 10.09%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 transaction, the executive vice president owned 23,167 shares of the company's stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TMO shares. UBS Group reduced their price objective on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Argus reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada dropped their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and a consensus price target 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.