Sanford C. Bernstein Trims Thermo Fisher Scientific (NYSE:TMO) Target Price to $620.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective cut by Sanford C. Bernstein from $625.00 to $620.00 in a research note published on Thursday morning, Benzinga reports. They currently have a market perform rating on the medical research company’s stock.

A number of other brokerages have also issued reports on TMO. JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Bernstein Bank boosted 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, October 22nd. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Trading Down 0.5 %

Shares of TMO stock opened at $554.38 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a 1 year low of $420.21 and a 1 year high of $627.88. The stock has a fifty day moving average of $605.12 and a two-hundred day moving average of $584.00. The firm has a market capitalization of $211.77 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the firm posted $5.69 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,548,375.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,548,375.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several large investors have recently made changes to their positions in the stock. Signature Resources Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth about $29,000. Stephens Consulting LLC lifted its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth about $33,000. Institutional investors 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.