Atlantic Union Bankshares Corp Decreases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Atlantic Union Bankshares Corp lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,479 shares of the medical research company’s stock after selling 100 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Thermo Fisher Scientific were worth $2,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. Sugarloaf Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 6.9% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 294 shares of the medical research company’s stock worth $156,000 after purchasing an additional 19 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in Thermo Fisher Scientific by 3.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 526 shares of the medical research company’s stock worth $279,000 after purchasing an additional 19 shares during the last quarter. Tsfg LLC lifted its stake in Thermo Fisher Scientific by 8.3% in the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after buying an additional 19 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in shares of Thermo Fisher Scientific by 16.5% in the fourth quarter. Pacifica Partners Inc. now owns 141 shares of the medical research company’s stock valued at $69,000 after acquiring an additional 20 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,069 shares of the medical research company’s stock valued at $591,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE:TMO traded up $1.94 during trading hours on Friday, hitting $552.72. The company’s stock had a trading volume of 6,150,742 shares, compared to its average volume of 1,551,795. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The company has a market capitalization of $210.98 billion, a PE ratio of 35.45, a PEG ratio of 2.60 and a beta of 0.79. The business’s 50-day moving average is $574.84 and its two-hundred day moving average is $562.59. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, June 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TMO shares. Evercore ISI increased their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup started coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective for the company. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $607.06.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock worth $12,532,780 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

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.