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

Truist Financial Corp lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Stonegate Investment Group LLC increased its stake in Thermo Fisher Scientific by 0.3% in 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 during the period. Angeles Wealth Management LLC increased its stake in Thermo Fisher Scientific by 0.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares during the period. Bangor Savings Bank boosted its position in Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares during the period. Eagle Rock Investment Company LLC increased its position in shares of Thermo Fisher Scientific by 0.3% during the fourth 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 during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Thermo Fisher Scientific by 0.8% during 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 acquiring an additional 20 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the subject of a number of research analyst reports. Raymond James reaffirmed an “outperform” rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Citigroup lifted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group lifted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Trading Down 0.0 %

NYSE:TMO opened at $532.58 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $548.51 and a 200-day simple moving average of $569.90. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a market capitalization of $203.71 billion, a P/E ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77.

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

Thermo Fisher Scientific announced that its board has approved a share buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the business’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 transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock valued at $11,231,699 in the last ninety days. Insiders own 0.34% of the company’s stock.

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.