Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $600.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective dropped by equities researchers at Barclays from $615.00 to $600.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price objective would indicate a potential upside of 8.33% from the stock’s previous close.

A number of other analysts have also recently weighed in on TMO. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Citigroup began coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They set a “neutral” rating and a $620.00 target price for the company. Evercore ISI increased their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $607.06.

Thermo Fisher Scientific Trading Up 0.6 %

NYSE TMO traded up $3.09 on Friday, reaching $553.87. The stock had a trading volume of 307,087 shares, compared to its average volume of 1,504,668. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $574.51 and a two-hundred day moving average price of $562.27. The firm has a market capitalization of $211.42 billion, a price-to-earnings ratio of 35.47, a P/E/G ratio of 2.60 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. As a group, sell-side analysts forecast that Thermo Fisher Scientific will post 21.65 EPS for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the 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 sale, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock worth $12,532,780 over the last 90 days. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of institutional investors have recently modified their holdings of TMO. Gotham Asset Management LLC increased its holdings in Thermo Fisher Scientific by 47.5% during the 3rd quarter. Gotham Asset Management LLC now owns 2,654 shares of the medical research company’s stock worth $1,343,000 after purchasing an additional 855 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Thermo Fisher Scientific by 54.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 12,107 shares of the medical research company’s stock valued at $6,128,000 after acquiring an additional 4,260 shares in the last quarter. Waverly Advisors LLC raised its stake in Thermo Fisher Scientific by 6.2% in the third quarter. Waverly Advisors LLC now owns 2,233 shares of the medical research company’s stock valued at $1,130,000 after purchasing an additional 131 shares in the last quarter. United Services Automobile Association purchased a new position in Thermo Fisher Scientific in the third quarter worth $5,300,000. Finally, First Business Financial Services Inc. purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.