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

Atlantic Union Bankshares Corp cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,746 shares of the medical research company’s stock after selling 672 shares during the period. Atlantic Union Bankshares Corp’s holdings in Thermo Fisher Scientific were worth $8,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TMO. Signature Resources Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC increased its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares in the last quarter. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank upped their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the transaction, the chief executive officer now owns 14,608 shares in the company, valued at $8,076,178.88. This represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 in the last three months. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Up 1.7 %

Shares of TMO opened at $521.66 on Friday. The firm’s 50 day simple moving average is $568.01 and its 200 day simple moving average is $578.38. Thermo Fisher Scientific Inc. has a 1-year low of $480.57 and a 1-year 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. The company has a market capitalization of $199.53 billion, a P/E ratio of 32.71, a P/E/G ratio of 3.45 and a beta of 0.79.

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

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific 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.