Norway Savings Bank Sells 275 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Norway Savings Bank trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 36.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480 shares of the medical research company’s stock after selling 275 shares during the period. Norway Savings Bank’s holdings in Thermo Fisher Scientific were worth $250,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Diversified Trust Co boosted its holdings in shares of Thermo Fisher Scientific by 25.5% during the 4th quarter. Diversified Trust Co now owns 12,784 shares of the medical research company’s stock valued at $6,651,000 after purchasing an additional 2,594 shares during the last quarter. Bangor Savings Bank lifted its holdings in Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares in the last quarter. Oliver Luxxe Assets LLC grew its position in shares of Thermo Fisher Scientific by 6.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 9,461 shares of the medical research company’s stock worth $4,922,000 after buying an additional 555 shares in the last quarter. Doliver Advisors LP boosted its position in Thermo Fisher Scientific by 1.6% during the 4th quarter. Doliver Advisors LP now owns 2,803 shares of the medical research company’s stock valued at $1,458,000 after acquiring an additional 44 shares in the last quarter. Finally, Kings Path Partners LLC grew its position in shares of Thermo Fisher Scientific by 13.1% in the 4th quarter. Kings Path Partners LLC now owns 2,637 shares of the medical research company’s stock worth $1,372,000 after buying an additional 306 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.5 %

Shares of TMO stock traded up $8.15 during trading on Tuesday, reaching $545.34. The company’s stock had a trading volume of 1,141,568 shares, compared to its average volume of 1,594,854. 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 moving average price of $530.39 and a 200-day moving average price of $568.53. The company has a market cap of $208.59 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88.

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

Thermo Fisher Scientific declared that its board has authorized a share buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

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

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock worth $25,954,465 in the last 90 days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of several recent research reports. Royal Bank of Canada reduced their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America decreased their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $650.05.

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.