Bangor Savings Bank Sells 58 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Bangor Savings Bank lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276 shares of the medical research company’s stock after selling 58 shares during the period. Bangor Savings Bank’s holdings in Thermo Fisher Scientific were worth $137,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $25,000. FPC Investment Advisory Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $28,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $35,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.9%

TMO stock opened at $401.99 on Monday. Thermo Fisher Scientific Inc. has a fifty-two week low of $390.50 and a fifty-two week high of $627.88. The business’s 50 day moving average price is $420.74 and its two-hundred day moving average price is $495.68. 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 market capitalization of $151.75 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.11 EPS. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific’s payout ratio is currently 10.09%.

Analyst Ratings Changes

TMO has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Scotiabank reduced their price target on Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating on the stock in a report on Friday, April 25th. Barclays reduced their price target on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Citigroup reduced their price target 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. Finally, Robert W. Baird reduced their price target on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $605.30.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.