Fifth Third Bancorp Grows Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Fifth Third Bancorp raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 301,071 shares of the medical research company's stock after purchasing an additional 1,729 shares during the quarter. Fifth Third Bancorp owned 0.08% of Thermo Fisher Scientific worth $174,985,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TMO. Vanguard Group Inc. raised its position in Thermo Fisher Scientific by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company's stock worth $16,582,503,000 after buying an additional 180,618 shares during the last quarter. Morgan Stanley grew its stake in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company's stock worth $6,285,838,000 after acquiring an additional 50,736 shares during the period. Capital Research Global Investors lifted its position in Thermo Fisher Scientific by 6.9% during the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company's stock valued at $4,240,824,000 after purchasing an additional 517,137 shares during the period. Norges Bank bought a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $2,909,524,000. Finally, Northern Trust Corp raised its stake in Thermo Fisher Scientific by 2.6% during the 3rd quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company's stock valued at $1,988,856,000 after buying an additional 99,377 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,873,516.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Michael A. Boxer sold 14,566 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the sale, the senior vice president now owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The disclosure for this sale can be found here. Insiders have sold a total of 62,277 shares of company stock worth $35,373,364 over the last quarter. Company insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an "outperform" rating in a research report on Thursday, February 1st. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an "outperform" rating on the stock in a research note on Thursday, April 25th. Barclays upped their target price on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an "equal weight" rating in a report on Thursday, April 25th. Evercore ISI lifted their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an "outperform" rating in a research note on Thursday, April 4th. Finally, Raymond James raised their target price on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an "outperform" rating in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $607.35.

Thermo Fisher Scientific Trading Down 0.7 %

TMO stock traded down $3.80 during mid-day trading on Thursday, reaching $571.19. 1,357,350 shares of the stock traded hands, compared to its average volume of 1,547,297. The business has a 50-day moving average price of $575.24 and a two-hundred day moving average price of $532.25. The stock has a market capitalization of $218.03 billion, a PE ratio of 36.64, a PEG ratio of 2.36 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.64 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.35. Thermo Fisher Scientific's dividend payout ratio is 10.01%.

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.

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