Truist Financial Corp Has $82.39 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Truist Financial Corp trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the second quarter, HoldingsChannel reports. The firm owned 148,985 shares of the medical research company’s stock after selling 3,857 shares during the period. Truist Financial Corp’s holdings in Thermo Fisher Scientific were worth $82,389,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Campbell & CO Investment Adviser LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at about $382,000. CWA Asset Management Group LLC grew its holdings in shares of Thermo Fisher Scientific by 48.9% during the fourth quarter. CWA Asset Management Group LLC now owns 1,313 shares of the medical research company’s stock valued at $697,000 after buying an additional 431 shares during the last quarter. Edge Capital Group LLC grew its holdings in shares of Thermo Fisher Scientific by 4.9% during the fourth quarter. Edge Capital Group LLC now owns 2,590 shares of the medical research company’s stock valued at $1,375,000 after buying an additional 122 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at about $1,047,000. Finally, Capital International Sarl grew its holdings in shares of Thermo Fisher Scientific by 7.0% during the fourth quarter. Capital International Sarl now owns 53,537 shares of the medical research company’s stock valued at $28,417,000 after buying an additional 3,512 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $612.92 on Wednesday. The firm’s 50 day simple moving average is $608.74 and its 200 day simple moving average is $582.32. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $234.13 billion, a PE ratio of 39.31, a price-to-earnings-growth ratio of 3.90 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the previous year, the company earned $5.15 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TMO. Royal Bank of Canada reiterated an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Bank of America boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target on the stock. Evercore ISI boosted their price target on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Raymond James boosted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $653.72.

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.