Wells Fargo & Company Lowers Thermo Fisher Scientific (NYSE:TMO) Price Target to $580.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective reduced by equities researchers at Wells Fargo & Company from $680.00 to $580.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 36.12% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Barclays cut their target price on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. UBS Group upped their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eighteen 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 $642.67.

Thermo Fisher Scientific Stock Down 2.4 %

Shares of NYSE:TMO opened at $426.11 on Thursday. The business’s 50 day moving average is $497.67 and its 200 day moving average is $533.64. The stock has a market cap of $160.85 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.99 and a beta of 0.86. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific has a 12-month low of $409.85 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, sell-side analysts forecast that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock worth $13,106,062. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TMO. Stonegate Investment Group LLC boosted its holdings in Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after buying an additional 18 shares during the period. Semus Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 4.0% in the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after purchasing an additional 18 shares during the period. Bangor Savings Bank boosted its position in shares of Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after acquiring an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock valued at $3,882,000 after purchasing an additional 19 shares during the last quarter. Finally, KRS Capital Management LLC boosted its stake in Thermo Fisher Scientific by 1.5% during the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock valued at $685,000 after buying an additional 20 shares during the last quarter. 89.23% of the stock is currently 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.