Atlantic Union Bankshares Corp Sells 672 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Atlantic Union Bankshares Corp reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,746 shares of the medical research company’s stock after selling 672 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Thermo Fisher Scientific were worth $8,503,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Signature Resources Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the period. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth $27,000. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC increased its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $521.66 on Friday. The stock has a market capitalization of $199.53 billion, a PE ratio of 32.71, a P/E/G ratio of 3.45 and a beta of 0.79. The business has a fifty day moving average price of $568.01 and a two-hundred day moving average price of $578.38. Thermo Fisher Scientific Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the business posted $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its board has approved a share repurchase plan 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 plans are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have issued reports on TMO. JPMorgan Chase & Co. upped their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Sanford C. Bernstein cut their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Bernstein Bank boosted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Stephens began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Finally, Robert W. Baird dropped their price objective on shares of 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. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by insiders.

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.