Klingman & Associates LLC Sells 642 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Klingman & Associates LLC has reduced its holdings in Thermo Fisher Scientific Inc. by 29.4%, resulting in ownership of 1,545 shares worth approximately $769,000.
• Insider sales included Gianluca Pettiti selling 400 shares and CEO Marc N. Casper selling 10,000 shares, signifying a decrease in ownership percentages for both executives.
• Thermo Fisher Scientific's stock recently opened at $477.92, with a market cap of $180.47 billion and a reported $5.36 earnings per share for the last quarter, surpassing analysts' estimates.

Klingman & Associates LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 29.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,545 shares of the medical research company's stock after selling 642 shares during the period. Klingman & Associates LLC's holdings in Thermo Fisher Scientific were worth $769,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Mondrian Investment Partners LTD grew its stake in shares of Thermo Fisher Scientific by 146.1% in the first quarter. Mondrian Investment Partners LTD now owns 214,506 shares of the medical research company's stock worth $106,738,000 after purchasing an additional 127,357 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Thermo Fisher Scientific by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 77 shares of the medical research company's stock valued at $38,000 after buying an additional 63 shares during the period. Resona Asset Management Co. Ltd. increased its stake in shares of Thermo Fisher Scientific by 8.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 118,783 shares of the medical research company's stock valued at $59,153,000 after buying an additional 9,187 shares during the period. Rathbones Group PLC increased its stake in shares of Thermo Fisher Scientific by 5.7% in the first quarter. Rathbones Group PLC now owns 841,990 shares of the medical research company's stock valued at $418,974,000 after buying an additional 45,673 shares during the period. Finally, Iyo Bank Ltd. increased its stake in shares of Thermo Fisher Scientific by 38.0% in the first quarter. Iyo Bank Ltd. now owns 15,049 shares of the medical research company's stock valued at $7,488,000 after buying an additional 4,140 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the sale, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 8,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $454.45, for a total transaction of $3,635,600.00. Following the transaction, the chief executive officer owned 115,174 shares of the company's stock, valued at $52,340,824.30. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,400 shares of company stock valued at $8,345,792. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Up 0.2%

NYSE:TMO traded up $0.83 on Thursday, hitting $485.62. The stock had a trading volume of 1,955,228 shares, compared to its average volume of 3,096,282. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The stock has a market cap of $183.38 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The firm's fifty day simple moving average is $433.08 and its two-hundred day simple moving average is $461.44.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the business posted $5.37 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.95%.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research analyst reports. Argus cut their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Royal Bank Of Canada cut their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a research report on Friday, July 11th. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research report on Sunday. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

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.