Fifth Third Bancorp Buys 34,917 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Fifth Third Bancorp increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,053 shares of the medical research company’s stock after buying an additional 34,917 shares during the quarter. Fifth Third Bancorp owned 0.09% of Thermo Fisher Scientific worth $174,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TMO. IFG Advisors LLC raised its position in Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares during the period. Trivant Custom Portfolio Group LLC raised its holdings in Thermo Fisher Scientific by 0.4% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after buying an additional 19 shares during the period. Axiom Advisory LLC lifted its position in Thermo Fisher Scientific by 1.6% in the third quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after buying an additional 19 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 19 shares during the last quarter. Finally, Bangor Savings Bank lifted its stake in shares of Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.1 %

NYSE TMO opened at $575.21 on Friday. The company has a fifty day moving average of $532.36 and a 200 day moving average of $569.05. The company has a market capitalization of $220.02 billion, a PE ratio of 36.06, a P/E/G ratio of 3.82 and a beta of 0.76. 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 Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $5.69 earnings per share. Research analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.78%.

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

Wall Street Analyst Weigh In

TMO has been the topic of a number of research analyst reports. Bernstein Bank upped their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Evercore ISI decreased their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research note on Friday, January 10th. Finally, 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 report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. The trade was a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 44,850 shares of company stock worth $24,666,097 in the last 90 days. Corporate 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.