Thermo Fisher Scientific (NYSE:TMO) Given New $660.00 Price Target at Wells Fargo & Company

Thermo Fisher Scientific (NYSE:TMO) had its price target lowered by stock analysts at Wells Fargo & Company from $670.00 to $660.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 16.44% from the company’s current price.

TMO has been the subject of several other reports. Evercore ISI boosted their price objective on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Stephens assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. TD Cowen increased their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday. Finally, UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $654.00.

Thermo Fisher Scientific Trading Down 1.7 %

NYSE TMO traded down $9.66 during mid-day trading on Thursday, reaching $566.83. 389,101 shares of the stock were exchanged, compared to its average volume of 1,462,601. The stock has a market capitalization of $216.53 billion, a PE ratio of 35.16, a PEG ratio of 3.75 and a beta of 0.77. 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 1-year low of $415.60 and a 1-year high of $627.88. The business’s fifty day simple moving average is $607.04 and its 200 day simple moving average is $584.39.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $5.15 EPS. On average, research analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction 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 in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

A number of institutional investors have recently added to or reduced their stakes in the business. Beaumont Financial Advisors LLC increased its position in Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after buying an additional 17 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 14.5% during the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after acquiring an additional 17 shares during the last quarter. Lafayette Investments Inc. lifted its holdings in Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after purchasing an additional 17 shares during the last quarter. IFG Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after buying an additional 17 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in Thermo Fisher Scientific by 1.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after acquiring an additional 18 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.