Robert W. Baird Cuts Thermo Fisher Scientific (NYSE:TMO) Price Target to $622.00

Thermo Fisher Scientific (NYSE:TMO) had its price target lowered by equities researchers at Robert W. Baird from $632.00 to $622.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s target price indicates a potential upside of 7.89% from the stock’s current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective on the stock. Raymond James lifted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI lifted their price objective on Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $655.00.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $576.49 on Thursday. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The stock’s 50-day moving average is $607.04 and its two-hundred day moving average is $584.39. 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 cap of $220.22 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results 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 company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period last year, the company earned $5.15 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. On average, 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 news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the company’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 directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 in the last three months. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Beaumont Financial Advisors LLC raised its holdings in Thermo Fisher Scientific by 0.8% in the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after acquiring an additional 17 shares during the period. Cedar Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after purchasing an additional 17 shares during the period. Lafayette Investments Inc. increased its holdings in shares of Thermo Fisher Scientific by 2.1% during the second 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 period. IFG Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after purchasing an additional 17 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in shares of 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 worth $570,000 after purchasing an additional 18 shares during the period. 89.23% of the stock is owned by 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.