Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $610.00

Thermo Fisher Scientific (NYSE:TMO) had its target price trimmed by Barclays from $620.00 to $610.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the medical research company’s stock.

Several other research analysts have also recently issued reports on TMO. TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Evercore ISI raised their price target on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company started coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

TMO stock opened at $554.38 on Wednesday. The company has a market capitalization of $211.77 billion, a P/E ratio of 34.39, a PEG ratio of 3.75 and a beta of 0.77. Thermo Fisher Scientific has a twelve month low of $420.21 and a twelve month high of $627.88. The business has a 50 day simple moving average of $605.12 and a 200-day simple moving average of $584.00. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

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

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’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 sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,548,375.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signature Resources Capital Management LLC grew its position in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its position in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at approximately $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.