Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $620.00

Thermo Fisher Scientific (NYSE:TMO) had its price target decreased by stock analysts at Robert W. Baird from $621.00 to $620.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price target points to a potential upside of 7.34% from the company’s previous close.

A number of other brokerages have also issued reports on TMO. Evercore ISI lifted their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. The Goldman Sachs Group lifted their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Citigroup initiated 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 for the company. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $601.56.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $577.62 on Thursday. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 1.39. The firm has a market capitalization of $220.48 billion, a PE ratio of 37.39, a P/E/G ratio of 2.42 and a beta of 0.80. The company’s 50 day simple moving average is $572.61 and its 200 day simple moving average is $529.06.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. As a group, equities research analysts forecast that Thermo Fisher Scientific will post 21.51 EPS for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,039,491.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock worth $28,513,384 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several large investors have recently bought and sold shares of TMO. Northwest Financial Advisors acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. True Wealth Design LLC increased its stake in Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Pineridge Advisors LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $39,000. Cape Investment Advisory Inc. increased its stake in Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Thermo Fisher Scientific by 49.1% during the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after acquiring an additional 27 shares in the last quarter. 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.