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

Thermo Fisher Scientific (NYSE:TMO) had its price objective lowered by research analysts at Barclays from $620.00 to $610.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target would indicate a potential upside of 6.82% from the company’s previous close.

Several other equities analysts have also recently weighed in on TMO. Stephens assumed coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective on the stock. Raymond James boosted 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. Royal Bank of Canada restated an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Bernstein Bank upped their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $655.50.

Thermo Fisher Scientific Trading Down 2.6 %

Shares of Thermo Fisher Scientific stock traded down $15.30 during trading on Wednesday, hitting $571.08. 1,122,310 shares of the company were exchanged, compared to its average volume of 1,463,272. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a market capitalization of $218.15 billion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. The firm’s fifty day moving average price is $607.55 and its 200 day moving average price is $584.45.

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

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TMO. Signature Resources Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 35 shares in the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC lifted its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific during the first quarter worth $32,000. Finally, Bank & Trust Co bought a new stake in Thermo Fisher Scientific during the second quarter worth $33,000. Institutional investors own 89.23% of the company’s stock.

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.