Fifth Third Bancorp Has $158.92 Million Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Fifth Third Bancorp increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 327,665 shares of the medical research company’s stock after buying an additional 6,440 shares during the quarter. Fifth Third Bancorp owned about 0.09% of Thermo Fisher Scientific worth $158,924,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TMO. Highline Wealth Partners LLC increased its stake in Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Capital A Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth about $31,000. Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the company’s 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 of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michel Lagarde sold 32,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of the transaction, the chief operating officer owned 65,480 shares of the company’s stock, valued at $38,200,377.20. The trade was a 32.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,996 shares of company stock worth $63,355,935 over the last 90 days. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Down 0.9%

Thermo Fisher Scientific stock opened at $504.99 on Monday. The firm has a 50 day moving average price of $585.45 and a 200-day moving average price of $545.03. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a market capitalization of $189.73 billion, a P/E ratio of 28.47, a P/E/G ratio of 2.91 and a beta of 0.93.

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

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TMO has been the topic of several analyst reports. TD Cowen cut their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Wells Fargo & Company set a $683.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Argus increased their price objective on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

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.