Klingenstein Fields & Co. LP Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Klingenstein Fields & Co. LP cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,920 shares of the medical research company’s stock after selling 395 shares during the quarter. Thermo Fisher Scientific comprises about 1.6% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 18th biggest position. Klingenstein Fields & Co. LP’s holdings in Thermo Fisher Scientific were worth $39,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of TMO. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific in the third quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TMO. Citigroup lifted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Robert W. Baird cut their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Evercore ISI cut their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. TD Cowen boosted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Morgan Stanley boosted their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $658.00.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $11,231,699 in the last quarter. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.0 %

NYSE TMO opened at $532.63 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 debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock has a market cap of $203.73 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. The firm’s 50 day moving average price is $548.21 and its two-hundred day moving average price is $571.28.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS 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 analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

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.