Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $620.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective reduced by research analysts at Evercore ISI from $630.00 to $620.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target suggests a potential upside of 11.84% from the stock’s previous close.

A number of other research firms also recently commented on TMO. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday. Bank of America upped their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. TD Cowen raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday. Finally, Raymond James upped their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Five research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $554.38 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a one year low of $420.21 and a one year high of $627.88. The company has a market cap of $211.77 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77. The business has a fifty day moving average of $606.12 and a two-hundred day moving average of $584.21.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the previous year, the firm earned $5.69 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,548,375.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds have recently modified their holdings of TMO. Signature Resources Capital Management LLC grew its position in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth $29,000. Stephens Consulting LLC boosted its position in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Thermo Fisher Scientific during the first quarter worth about $32,000. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.