Congress Asset Management Co. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 23.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,749 shares of the medical research company's stock after buying an additional 31,894 shares during the quarter. Congress Asset Management Co.'s holdings in Thermo Fisher Scientific were worth $83,472,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $3,149,754,000. GAMMA Investing LLC boosted its holdings in Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after acquiring an additional 858,193 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in Thermo Fisher Scientific by 68,617.0% in the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock worth $396,810,000 after acquiring an additional 761,649 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on TMO shares. Evercore ISI cut their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Scotiabank dropped their price target on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research report on Friday, April 25th. Finally, Argus dropped their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus price target of $605.30.
Read Our Latest Research Report on TMO
Thermo Fisher Scientific Price Performance
Shares of NYSE TMO traded up $3.63 during midday trading on Friday, reaching $401.99. 2,629,538 shares of the company were exchanged, compared to its average volume of 1,910,947. The stock's 50-day moving average price is $420.74 and its 200-day moving average price is $495.81. The stock has a market cap of $151.75 billion, a P/E ratio of 24.32, a PEG ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) 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 analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company's revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.11 earnings per share. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The firm also recently disclosed 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 of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio is 10.09%.
Insider Buying and Selling
In other news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares of the company's stock, valued at $5,759,736.32. This represents a 25.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares in the company, valued at $9,960,188.31. This trade represents a 1.28% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
About Thermo Fisher Scientific
(
Free Report)
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.
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