Evercore Wealth Management LLC Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Evercore Wealth Management LLC cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 304,731 shares of the medical research company’s stock after selling 1,483 shares during the quarter. Thermo Fisher Scientific makes up about 2.7% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. Evercore Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $161,748,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TMO. Norges Bank bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $2,909,524,000. International Assets Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 61,995.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock worth $535,923,000 after buying an additional 1,008,045 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Thermo Fisher Scientific by 17,046.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock worth $492,803,000 after buying an additional 967,913 shares in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $333,786,000. Finally, Clearbridge Investments LLC raised its position in shares of Thermo Fisher Scientific by 33.1% during the 4th quarter. Clearbridge Investments LLC now owns 2,228,730 shares of the medical research company’s stock worth $1,182,987,000 after buying an additional 553,695 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,000 shares of company stock worth $18,512,580. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TMO. HSBC lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Citigroup began coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $607.94.

Thermo Fisher Scientific Stock Up 0.2 %

NYSE TMO traded up $1.25 during trading on Friday, reaching $581.09. The company’s stock had a trading volume of 1,231,957 shares, compared to its average volume of 1,173,904. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $221.81 billion, a PE ratio of 37.27, a PEG ratio of 2.71 and a beta of 0.79. The business has a 50-day moving average price of $575.14 and a 200-day moving average price of $555.31. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, June 14th. Thermo Fisher Scientific’s payout ratio is 10.01%.

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.