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

Penobscot Investment Management Company Inc. decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,663 shares of the medical research company’s stock after selling 1,431 shares during the period. Thermo Fisher Scientific accounts for about 0.8% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 28th biggest position. Penobscot Investment Management Company Inc.’s holdings in Thermo Fisher Scientific were worth $9,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TMO. Murphy & Mullick Capital Management Corp purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $189,000. Meiji Yasuda Asset Management Co Ltd. grew its stake in Thermo Fisher Scientific by 0.4% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 20,629 shares of the medical research company’s stock valued at $10,732,000 after acquiring an additional 88 shares in the last quarter. Baxter Bros Inc. increased its holdings in Thermo Fisher Scientific by 1.5% during the 4th quarter. Baxter Bros Inc. now owns 28,462 shares of the medical research company’s stock worth $14,807,000 after acquiring an additional 432 shares during the period. Bay Capital Advisors LLC bought a new position in Thermo Fisher Scientific in the 4th quarter valued at $346,000. Finally, Signature Estate & Investment Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 7.8% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 110,251 shares of the medical research company’s stock worth $57,356,000 after purchasing an additional 7,986 shares during the period. Institutional investors own 89.23% of the company’s stock.

Insider Activity

In related news, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This trade represents a 25.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock worth $13,106,062. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Raymond James restated an “outperform” rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Citigroup decreased their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Bank of America decreased their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. Finally, UBS Group lifted their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $653.23.

Thermo Fisher Scientific Trading Down 1.2 %

TMO opened at $513.77 on Wednesday. The firm has a market capitalization of $193.83 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The business has a 50 day simple moving average of $544.56 and a two-hundred day simple moving average of $554.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.43 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

Thermo Fisher Scientific 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.