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

Bangor Savings Bank lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334 shares of the medical research company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $50,000. HWG Holdings LP acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $50,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth $65,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $545.71 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market cap of $208.73 billion, a PE ratio of 34.21, a P/E/G ratio of 3.54 and a beta of 0.76. The firm has a 50-day simple moving average of $530.35 and a two-hundred day simple moving average of $568.39. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the business posted $5.69 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. 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 has initiated a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. StockNews.com downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lowered their target price 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. Finally, Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Buying and Selling

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % 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 in the last ninety days. Company 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.