Congress Wealth Management LLC DE Sells 6,699 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Congress Wealth Management LLC DE lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,279 shares of the medical research company’s stock after selling 6,699 shares during the period. Congress Wealth Management LLC DE’s holdings in Thermo Fisher Scientific were worth $8,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth $26,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $28,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at approximately $5,759,736.32. The trade was a 25.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at $59,506,950.58. This trade represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $13,106,062 over the last 90 days. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $520.25 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The firm has a market cap of $196.27 billion, a P/E ratio of 31.47, a P/E/G ratio of 2.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The business’s fifty day moving average is $545.44 and its two-hundred day moving average is $554.91.

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

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.33%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Scotiabank lifted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $653.23.

Thermo Fisher Scientific Company 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.