Camden National Bank Has $5.28 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Camden National Bank grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,145 shares of the medical research company’s stock after acquiring an additional 40 shares during the period. Camden National Bank’s holdings in Thermo Fisher Scientific were worth $5,278,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp increased its position in Thermo Fisher Scientific by 0.8% in 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 purchasing an additional 124,996 shares during the last quarter. FMR LLC grew its stake in shares of Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC raised its position in Thermo Fisher Scientific by 1.7% during the third 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 in the last quarter. Franklin Resources Inc. grew its position in 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 worth $2,935,377,000 after acquiring an additional 262,062 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Thermo Fisher Scientific by 15.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,810,128 shares of the medical research company’s stock worth $1,461,913,000 after purchasing an additional 366,191 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In related news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,125 shares of company stock valued at $11,095,799. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Citigroup lowered 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. Finally, Wells Fargo & Company upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $653.23.

Thermo Fisher Scientific Stock Performance

TMO opened at $531.74 on Friday. The stock has a market cap of $200.60 billion, a PE ratio of 32.17, a P/E/G ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The stock’s 50 day simple moving average is $549.11 and its 200-day simple moving average is $562.68. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.43 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 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.