Thermo Fisher Scientific (NYSE:TMO) Given New $620.00 Price Target at Stifel Nicolaus

Thermo Fisher Scientific (NYSE:TMO) had its target price reduced by Stifel Nicolaus from $665.00 to $620.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other analysts have also commented on TMO. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a research note on Thursday. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Barclays decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $618.68.

Thermo Fisher Scientific Stock Down 1.2 %

TMO stock opened at $426.57 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific has a fifty-two week low of $409.85 and a fifty-two week high of $627.88. The stock’s 50 day simple moving average is $489.25 and its 200 day simple moving average is $528.84. The company has a market cap of $161.03 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. On average, research analysts expect that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a $0.43 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.40%. Thermo Fisher Scientific’s payout ratio is presently 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 3,775 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently modified their holdings of the company. Stonegate Investment Group LLC grew its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after purchasing an additional 18 shares during the period. Semus Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares during the period. Bangor Savings Bank lifted its position in shares of Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares in the last quarter. Eagle Rock Investment Company LLC increased its holdings in Thermo Fisher Scientific by 0.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after acquiring an additional 19 shares in the last quarter. Finally, KRS Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 1.5% in the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock worth $685,000 after purchasing an additional 20 shares during the period. 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.