Penobscot Investment Management Company Inc. Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Penobscot Investment Management Company Inc. raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,825 shares of the medical research company’s stock after buying an additional 130 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.1% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 25th biggest position. Penobscot Investment Management Company Inc.’s holdings in Thermo Fisher Scientific were worth $9,461,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TMO. Linden Thomas Advisory Services LLC raised its position in shares of Thermo Fisher Scientific by 8.8% during the third quarter. Linden Thomas Advisory Services LLC now owns 1,546 shares of the medical research company’s stock valued at $783,000 after buying an additional 125 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Thermo Fisher Scientific by 17.7% during the third quarter. Harbor Capital Advisors Inc. now owns 1,241 shares of the medical research company’s stock valued at $628,000 after purchasing an additional 187 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Thermo Fisher Scientific by 0.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 99,703 shares of the medical research company’s stock valued at $50,467,000 after buying an additional 835 shares in the last quarter. FAS Wealth Partners Inc. boosted its holdings in Thermo Fisher Scientific by 7.8% in the third quarter. FAS Wealth Partners Inc. now owns 748 shares of the medical research company’s stock valued at $378,000 after purchasing an additional 54 shares during the last quarter. Finally, RMR Wealth Builders acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth about $722,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock traded down $4.89 during midday trading on Tuesday, hitting $572.00. 395,569 shares of the company’s stock were exchanged, compared to its average volume of 1,540,182. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The stock has a 50-day moving average price of $574.18 and a two-hundred day moving average price of $531.06. The company has a market cap of $218.34 billion, a P/E ratio of 36.69, a PEG ratio of 2.41 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.56 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.39 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMO. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Raymond James lifted their price objective on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. The Goldman Sachs Group lifted their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price objective on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $607.35.

Insiders Place Their Bets

In related news, Director Debora L. Spar sold 164 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the transaction, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the sale, the director now owns 1,207 shares in the company, valued at approximately $660,192.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. Insiders have sold 52,277 shares of company stock valued at $29,649,264 over 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.