Norway Savings Bank Decreases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Norway Savings Bank lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 36.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 480 shares of the medical research company’s stock after selling 275 shares during the quarter. Norway Savings Bank’s holdings in Thermo Fisher Scientific were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific during the 3rd quarter worth $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth $27,000. HWG Holdings LP purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $50,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $50,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Thermo Fisher Scientific during the third quarter worth about $65,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the 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 transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.5 %

NYSE:TMO traded up $8.15 during mid-day trading on Tuesday, reaching $545.34. The stock had a trading volume of 1,141,568 shares, compared to its average volume of 1,594,854. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market cap of $208.59 billion, a P/E ratio of 34.19, a PEG ratio of 3.54 and a beta of 0.76. The business’s 50 day moving average is $530.39 and its 200 day moving average is $568.53. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week 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 for the quarter, topping 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 business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the business earned $5.69 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TMO shares. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. TD Cowen upped their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein lowered their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Bank of America cut their price objective 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. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $650.05.

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.