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

Truist Financial Corp reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,648 shares of the medical research company's stock after selling 4,813 shares during the quarter. Truist Financial Corp's holdings in Thermo Fisher Scientific were worth $71,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of TMO. Stonegate Investment Group LLC grew its position in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company's stock worth $3,531,000 after purchasing an additional 18 shares in the last quarter. Angeles Wealth Management LLC grew its stake in Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company's stock valued at $2,425,000 after acquiring an additional 19 shares in the last quarter. Bangor Savings Bank increased its holdings in shares of Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock worth $174,000 after purchasing an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC raised its holdings in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company's stock worth $3,882,000 after acquiring an additional 19 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Thermo Fisher Scientific by 0.8% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,429 shares of the medical research company's stock valued at $1,502,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the transaction, the executive vice president now directly owns 16,363 shares of the company's stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock valued at $11,231,699 in the last three months. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Down 1.0 %

Shares of TMO traded down $5.28 during trading hours on Friday, hitting $532.55. The company had a trading volume of 1,613,862 shares, compared to its average volume of 2,087,588. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company's fifty day moving average price is $548.47 and its two-hundred day moving average price is $567.70. The company has a market capitalization of $203.70 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio is 9.44%.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th. Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price objective for the company in a research note on Friday, January 10th. Finally, Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $658.00.

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.