Franklin Resources Inc. Has $2.94 Billion Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Franklin Resources Inc. raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,853,133 shares of the medical research company's stock after purchasing an additional 262,062 shares during the quarter. Thermo Fisher Scientific accounts for approximately 0.8% of Franklin Resources Inc.'s holdings, making the stock its 19th largest holding. Franklin Resources Inc. owned 1.27% of Thermo Fisher Scientific worth $2,935,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake 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 acquiring an additional 1,414,556 shares in the last quarter. FMR LLC grew its position 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. increased its stake in 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $254,412,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Thermo Fisher Scientific by 743.6% in the 2nd 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 in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TMO. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a "buy" rating and a $680.00 price target for the company. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Bank of America lowered their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Stephens initiated coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price target for the company. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $648.62.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded up $1.89 during trading on Friday, reaching $526.89. 1,466,369 shares of the company traded hands, compared to its average volume of 1,539,562. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. 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 capitalization of $201.54 billion, a PE ratio of 32.83, a PEG ratio of 3.59 and a beta of 0.77. The company's 50 day moving average is $551.83 and its two-hundred day moving average is $574.11.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction 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. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,150 shares of company stock worth $25,954,465. Company insiders own 0.34% of the company's stock.

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.