Atlantic Union Bankshares Corp Sells 462 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Atlantic Union Bankshares Corp cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,090 shares of the medical research company’s stock after selling 462 shares during the period. Atlantic Union Bankshares Corp’s holdings in Thermo Fisher Scientific were worth $6,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $25,000. Ameriflex Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $30,000. Navigoe LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter worth about $37,000. Smallwood Wealth Investment Management LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter worth about $37,000. Finally, Crowley Wealth Management Inc. acquired a new position in Thermo Fisher Scientific in the 4th quarter worth about $43,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $415.29 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The business has a fifty day simple moving average of $410.38 and a two-hundred day simple moving average of $472.67. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a market capitalization of $156.77 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.21 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $5.11 earnings per share. On average, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TMO shares. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Scotiabank raised Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 target price for the company in a research note on Friday, July 11th. UBS Group cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $500.00 to $460.00 in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $599.30.

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.