Congress Asset Management Co. Has $121.09 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

Congress Asset Management Co. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 39.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,978 shares of the medical research company’s stock after buying an additional 59,093 shares during the quarter. Congress Asset Management Co. owned 0.06% of Thermo Fisher Scientific worth $121,092,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after purchasing an additional 988 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $1,274,000. Weitz Investment Management Inc. raised its stake in Thermo Fisher Scientific by 19.3% during the 2nd quarter. Weitz Investment Management Inc. now owns 150,450 shares of the medical research company’s stock worth $61,001,000 after buying an additional 24,300 shares during the period. Finally, Maripau Wealth Management LLC bought a new position in Thermo Fisher Scientific in the second quarter worth approximately $222,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several recent research reports. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Wells Fargo & Company set a $683.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Finally, TD Cowen lowered their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $478.29 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The stock has a market cap of $177.67 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.74 and a beta of 0.96. The stock’s fifty day simple moving average is $540.67 and its two-hundred day simple moving average is $548.27. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the company posted $6.10 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is 10.60%.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total value of $2,562,000.00. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.33% of the stock is owned by insiders.

About Thermo Fisher Scientific

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.