Cohen Klingenstein LLC Has $10.19 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cohen Klingenstein LLC lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 21.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,590 shares of the medical research company's stock after selling 5,500 shares during the period. Cohen Klingenstein LLC's holdings in Thermo Fisher Scientific were worth $10,191,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in TMO. International Assets Investment Management LLC grew its position in shares of Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company's stock worth $876,152,000 after buying an additional 1,414,556 shares during the period. FMR LLC increased its stake in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company's stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company's stock valued at $1,372,157,000 after buying an additional 604,895 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Thermo Fisher Scientific during the 3rd quarter worth $254,412,000. Finally, Point72 Asset Management L.P. grew its stake in Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company's stock valued at $186,105,000 after acquiring an additional 296,646 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

TMO stock traded down $1.99 during mid-day trading on Friday, hitting $559.72. 2,134,669 shares of the company were exchanged, compared to its average volume of 1,426,114. The stock has a market capitalization of $214.09 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The business has a 50 day simple moving average of $529.96 and a 200-day simple moving average of $568.33.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.63 billion. During the same quarter last year, the business earned $5.69 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 in the last three months. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Bank of America lowered their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating for the company in a report on Friday, December 13th. Stephens initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price objective for the company. Finally, Evercore ISI cut their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $648.95.

Thermo Fisher Scientific 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.