Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Synovus Financial Corp

Synovus Financial Corp decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,828 shares of the medical research company’s stock after selling 509 shares during the quarter. Synovus Financial Corp’s holdings in Thermo Fisher Scientific were worth $7,317,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TMO. Triad Wealth Partners LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at approximately $43,000. Blue Trust Inc. increased its position in shares of Thermo Fisher Scientific by 30.3% during the 2nd quarter. Blue Trust Inc. now owns 829 shares of the medical research company’s stock valued at $482,000 after purchasing an additional 193 shares during the period. Gradient Investments LLC lifted its holdings in shares of Thermo Fisher Scientific by 11.8% in the second quarter. Gradient Investments LLC now owns 18,366 shares of the medical research company’s stock valued at $10,156,000 after buying an additional 1,939 shares during the period. Foster Victor Wealth Advisors LLC boosted its stake in Thermo Fisher Scientific by 8.2% during the second quarter. Foster Victor Wealth Advisors LLC now owns 525 shares of the medical research company’s stock valued at $292,000 after buying an additional 40 shares in the last quarter. Finally, Boomfish Wealth Group LLC raised its position in Thermo Fisher Scientific by 4.1% in the second quarter. Boomfish Wealth Group LLC now owns 4,002 shares of the medical research company’s stock worth $2,213,000 after acquiring an additional 159 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TMO. Robert W. Baird lowered 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 note on Thursday, October 24th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reduced their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Evercore ISI cut their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $652.30.

Thermo Fisher Scientific Price Performance

TMO opened at $526.89 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The stock has a fifty day moving average price of $550.39 and a 200 day moving average price of $573.71. The stock has a market cap of $201.54 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 3.59 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion for 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%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.69 earnings per share. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 over the last three months. Corporate insiders own 0.34% of the company’s stock.

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.