Evoke Wealth LLC Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Evoke Wealth LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the 4th quarter, HoldingsChannel reports. The fund owned 1,179 shares of the medical research company’s stock after selling 41 shares during the quarter. Evoke Wealth LLC’s holdings in Thermo Fisher Scientific were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after buying an additional 124,996 shares in the last quarter. FMR LLC grew its holdings in shares of 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. Geode Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after purchasing an additional 262,062 shares in the last quarter. Finally, Amundi grew its holdings in shares of Thermo Fisher Scientific by 13.5% in the fourth quarter. Amundi now owns 2,860,847 shares of the medical research company’s stock valued at $1,556,689,000 after purchasing an additional 340,263 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $13,106,062 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $521.42 on Wednesday. The company has a market capitalization of $196.71 billion, a PE ratio of 31.54, a P/E/G ratio of 2.99 and a beta of 0.79. 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 company has a 50-day simple moving average of $547.72 and a two-hundred day simple moving average of $557.48. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TMO. Citigroup lowered their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a research report on Friday, January 31st. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a research report on Friday, January 10th. Finally, Bank of America lowered their price target 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. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $653.23.

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.