Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Bangor Savings Bank

Bangor Savings Bank raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 334 shares of the medical research company’s stock after acquiring an additional 19 shares during the period. Bangor Savings Bank’s holdings in Thermo Fisher Scientific were worth $174,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 11.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after purchasing an additional 995 shares during the last quarter. Greenwood Gearhart Inc. increased its position in Thermo Fisher Scientific by 9.8% during the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after buying an additional 1,837 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 6.2% in the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after acquiring an additional 8,180 shares during the period. Finally, Summit Trail Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 29.2% in the 3rd quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock valued at $3,329,000 after acquiring an additional 1,214 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.6 %

Shares of TMO stock opened at $545.71 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $530.35 and a 200-day simple moving average of $568.39. The stock has a market cap of $208.73 billion, a P/E ratio of 34.21, a P/E/G ratio of 3.54 and a beta of 0.76.

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 the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the firm earned $5.69 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on TMO shares. Sanford C. Bernstein dropped their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus decreased their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Evercore ISI dropped their target price 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. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Finally, StockNews.com downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Monday. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were 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 $67,175,513.68. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock valued at $25,954,465 over the last quarter. 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.