Corebridge Financial Inc. Sells 5,034 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Corebridge Financial Inc. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 97,554 shares of the medical research company's stock after selling 5,034 shares during the quarter. Corebridge Financial Inc.'s holdings in Thermo Fisher Scientific were worth $50,751,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TMO. Vanguard Group Inc. increased its stake in Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock worth $17,297,426,000 after acquiring an additional 196,864 shares during the last quarter. State Street Corp lifted its stake in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock valued at $10,100,655,000 after acquiring an additional 124,996 shares during the last quarter. FMR LLC grew its position in Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company's stock worth $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock valued at $4,719,477,000 after buying an additional 127,564 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

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Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $5.87 during midday trading on Friday, hitting $505.81. The company had a trading volume of 362,806 shares, compared to its average volume of 1,530,195. The company has a market cap of $190.82 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 2.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The company has a fifty day moving average of $542.80 and a two-hundred day moving average of $553.64. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio is currently 10.41%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at $59,506,950.58. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares of the company's stock, valued at approximately $5,759,736.32. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $13,106,062 in the last three months. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

TMO has been the subject of several research analyst reports. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 target price for the company in a research report on Friday, January 10th. Morgan Stanley lifted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Scotiabank increased their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $653.23.

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.