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

Cohen Klingenstein LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.9% during the 4th quarter, HoldingsChannel reports. The institutional investor 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 SEC filing.

A number of other large investors also recently modified their holdings of the business. IFG Advisors LLC raised its stake in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its position in shares of Thermo Fisher Scientific by 0.4% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after buying an additional 19 shares during the last quarter. Axiom Advisory LLC raised its position in shares of Thermo Fisher Scientific by 1.6% during the third quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after acquiring an additional 19 shares during the last quarter. Angeles Wealth Management LLC raised its stake in Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares during the last quarter. Finally, Bangor Savings Bank boosted its holdings in shares of Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after buying an additional 19 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 over the last three months. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

TMO has been the subject of a number of recent research reports. Bernstein Bank boosted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. Bank of America decreased their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Morgan Stanley decreased their price objective on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $559.72 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a 50 day moving average of $529.80 and a 200 day moving average of $567.97. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market cap of $214.09 billion, a P/E ratio of 35.09, a PEG ratio of 3.59 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates 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 firm posted $5.69 EPS. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

About Thermo Fisher Scientific

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.