Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the fourth quarter, Holdings Channel reports. The fund owned 8,109 shares of the medical research company’s stock after selling 92 shares during the period. Bar Harbor Wealth Management’s holdings in Thermo Fisher Scientific were worth $4,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. IFG Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 3.3% during the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after purchasing an additional 17 shares in the last quarter. Trivant Custom Portfolio Group LLC increased its position in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock worth $2,720,000 after acquiring an additional 19 shares in the last quarter. Axiom Advisory LLC lifted its position in Thermo Fisher Scientific by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after acquiring an additional 19 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in Thermo Fisher Scientific by 0.5% in the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after purchasing an additional 19 shares during the last quarter. Finally, Bangor Savings Bank lifted its position in shares of Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was 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 approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Up 2.5 %

TMO stock traded up $13.60 during trading on Monday, reaching $555.91. The stock had a trading volume of 1,849,040 shares, compared to its average volume of 1,923,797. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company’s 50 day moving average is $529.91 and its two-hundred day moving average is $568.06. The company has a market capitalization of $212.64 billion, a price-to-earnings ratio of 34.85, a P/E/G ratio of 3.54 and a beta of 0.76. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given 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 dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Scotiabank initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price for the company. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price on the stock. Finally, Robert W. Baird lowered their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $648.95.

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.