Penobscot Investment Management Company Inc. Has $9.19 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Penobscot Investment Management Company Inc. lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 17,663 shares of the medical research company’s stock after selling 1,431 shares during the period. Thermo Fisher Scientific accounts for approximately 0.8% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 28th largest 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.

A number of other hedge funds also recently made changes to their positions in TMO. Vanguard Group Inc. lifted its holdings in Thermo Fisher Scientific by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after purchasing an additional 196,864 shares during the last quarter. State Street Corp lifted its stake in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after buying an additional 124,996 shares during the last quarter. FMR LLC boosted its holdings in shares of Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares during the period. Geode Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.7% in the 3rd 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 period. Finally, Franklin Resources Inc. grew its position in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TMO has been the topic of a number of research reports. Citigroup decreased their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Scotiabank lifted their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. Finally, UBS Group raised their price objective 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 equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $653.23.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock worth $13,106,062. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $513.77 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 debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company 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 market capitalization of $193.83 billion, a PE ratio of 31.08, a P/E/G ratio of 2.99 and a beta of 0.79.

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

Thermo Fisher Scientific Increases Dividend

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