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

Thermo Fisher Scientific (NYSE:TMO) had its target price cut by investment analysts at Robert W. Baird from $621.00 to $620.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price target would indicate a potential upside of 8.09% from the company’s previous close.

Several other research firms also recently issued reports on TMO. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Barclays downgraded shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $475.00 to $555.00 in a research note on Wednesday, January 24th. The Goldman Sachs Group lifted their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Evercore ISI lifted their target price on shares of 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, Citigroup started coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 target price for the company. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $606.76.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $573.60 on Thursday. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.39. The firm has a market capitalization of $218.95 billion, a P/E ratio of 36.79, a P/E/G ratio of 2.44 and a beta of 0.80. The company’s 50 day moving average price is $573.60 and its two-hundred day moving average price is $529.90.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The firm had revenue of $10.35 billion during 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%. On average, equities analysts forecast that Thermo Fisher Scientific will post 21.52 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the transaction, the chief executive officer now directly owns 49,155 shares in the company, valued at $27,311,992.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction dated 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now owns 49,155 shares in the company, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock worth $28,513,384 over the last three months. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMO. Strategic Blueprint LLC boosted its holdings in Thermo Fisher Scientific by 7.8% during the third quarter. Strategic Blueprint LLC now owns 1,124 shares of the medical research company’s stock worth $569,000 after purchasing an additional 81 shares during the last quarter. L. Roy Papp & Associates LLP boosted its holdings in Thermo Fisher Scientific by 1.1% during the third quarter. L. Roy Papp & Associates LLP now owns 49,965 shares of the medical research company’s stock worth $25,291,000 after purchasing an additional 548 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Thermo Fisher Scientific by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 183,281 shares of the medical research company’s stock valued at $92,771,000 after acquiring an additional 3,730 shares during the last quarter. WestEnd Advisors LLC boosted its stake in Thermo Fisher Scientific by 8.7% in the third quarter. WestEnd Advisors LLC now owns 63,740 shares of the medical research company’s stock valued at $32,263,000 after acquiring an additional 5,111 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC boosted its stake in Thermo Fisher Scientific by 0.8% in the third quarter. Birch Hill Investment Advisors LLC now owns 8,020 shares of the medical research company’s stock valued at $4,059,000 after acquiring an additional 60 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other 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.