Fifth Third Bancorp Buys 6,440 Shares of Thermo Fisher Scientific Inc. $TMO

Fifth Third Bancorp increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 327,665 shares of the medical research company’s stock after acquiring an additional 6,440 shares during the quarter. Fifth Third Bancorp’s holdings in Thermo Fisher Scientific were worth $158,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after purchasing an additional 309,207 shares during the period. Norges Bank bought a new position in Thermo Fisher Scientific in the 2nd quarter worth about $2,264,615,000. Franklin Resources Inc. raised its holdings in shares of Thermo Fisher Scientific by 11.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after acquiring an additional 498,238 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after acquiring an additional 1,262,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Thermo Fisher Scientific by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after purchasing an additional 74,971 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TMO. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Barclays increased their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Price Performance

TMO opened at $504.99 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock’s 50 day simple moving average is $585.45 and its 200 day simple moving average is $545.03. The firm has a market cap of $189.73 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.91 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.10 earnings per share. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 108,996 shares of company stock worth $63,355,935. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.