Congress Wealth Management LLC DE lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 28.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,643 shares of the medical research company’s stock after buying an additional 588 shares during the period. Congress Wealth Management LLC DE’s holdings in Thermo Fisher Scientific were worth $1,338,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in TMO. Bornite Capital Management LP lifted its position in Thermo Fisher Scientific by 50.0% in the first quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock worth $17,719,000 after purchasing an additional 10,000 shares during the period. Fairfield Bush & CO. lifted its position in Thermo Fisher Scientific by 1.2% in the first quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock worth $1,729,000 after purchasing an additional 36 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of Thermo Fisher Scientific by 563.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock valued at $11,721,000 after acquiring an additional 16,853 shares during the last quarter. Covestor Ltd lifted its position in shares of Thermo Fisher Scientific by 60.5% during the 1st quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock valued at $190,000 after acquiring an additional 121 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Thermo Fisher Scientific by 3.6% during the 1st quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock valued at $395,000 after acquiring an additional 23 shares during the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.
Thermo Fisher Scientific Stock Down 0.3 %
NYSE TMO opened at $544.32 on Monday. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $609.85. The stock’s 50 day moving average is $502.69 and its two-hundred day moving average is $511.17. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $210.31 billion, a price-to-earnings ratio of 35.67, a PEG ratio of 3.27 and a beta of 0.81.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its earnings results on Wednesday, October 25th. The medical research company reported $5.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.61 by $0.08. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The company had revenue of $10.57 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the company posted $5.08 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current fiscal year.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 14th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
Thermo Fisher Scientific Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.17%.
Insider Buying and Selling
In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $454.41, for a total value of $4,544,100.00. Following the completion of the transaction, the chief executive officer now owns 131,175 shares in the company, valued at approximately $59,607,231.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
TMO has been the topic of several recent analyst reports. Robert W. Baird reissued an “outperform” rating and set a $670.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday, December 14th. Morgan Stanley decreased their price target on shares of Thermo Fisher Scientific from $640.00 to $600.00 and set an “overweight” rating for the company in a report on Tuesday, October 24th. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Citigroup upped their price target on shares of Thermo Fisher Scientific from $530.00 to $575.00 and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $657.00 to $579.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $597.53.
View Our Latest Stock Report on Thermo Fisher Scientific
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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