Congress Asset Management Co. Has $72.70 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

Congress Asset Management Co. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,885 shares of the medical research company’s stock after selling 12,613 shares during the period. Congress Asset Management Co.’s holdings in Thermo Fisher Scientific were worth $72,697,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lionshead Wealth Management LLC raised its position in Thermo Fisher Scientific by 1.3% during the third quarter. Lionshead Wealth Management LLC now owns 1,812 shares of the medical research company’s stock worth $879,000 after acquiring an additional 24 shares in the last quarter. Quotient Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 6.4% during the 3rd quarter. Quotient Wealth Partners LLC now owns 968 shares of the medical research company’s stock worth $470,000 after purchasing an additional 58 shares during the last quarter. Abound Wealth Management lifted its stake in Thermo Fisher Scientific by 111.4% in the 3rd quarter. Abound Wealth Management now owns 93 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 49 shares during the last quarter. Perpetual Ltd grew its holdings in Thermo Fisher Scientific by 4.8% during the third quarter. Perpetual Ltd now owns 419,130 shares of the medical research company’s stock worth $203,286,000 after purchasing an additional 19,193 shares during the period. Finally, KMG Fiduciary Partners LLC increased its position in Thermo Fisher Scientific by 4.7% during the third quarter. KMG Fiduciary Partners LLC now owns 5,790 shares of the medical research company’s stock worth $2,808,000 after buying an additional 261 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TMO. TD Cowen lifted their target price on Thermo Fisher Scientific from $612.00 to $654.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Citigroup raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $580.00 to $660.00 in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Tuesday, October 14th. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $616.60.

Thermo Fisher Scientific Trading Up 0.8%

TMO stock opened at $567.01 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $610.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. The company’s 50-day simple moving average is $569.01 and its 200 day simple moving average is $497.40. The company has a market capitalization of $213.03 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 4.21 and a beta of 0.90.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The firm had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the previous year, the firm posted $5.28 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.94%.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In related news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at $47,404,976.52. The trade was a 20.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the sale, the chief executive officer owned 113,762 shares in the company, valued at $64,400,668.20. The trade was a 5.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,271 shares of company stock worth $86,507,282 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.