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

Thermo Fisher Scientific (NYSE:TMO) had its price target decreased by Sanford C. Bernstein from $625.00 to $620.00 in a research report released on Thursday morning, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the medical research company’s stock.

Several other equities analysts also recently commented on the company. Bank of America raised their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Company cut their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Redburn Atlantic started coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price target for the company. Finally, Morgan Stanley raised their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $554.38 on Thursday. The stock has a 50 day moving average of $605.12 and a two-hundred day moving average of $584.00. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 12 month low of $420.21 and a 12 month high of $627.88. The company has a market capitalization of $211.77 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $5.69 EPS. As a group, equities analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction on Monday, July 29th. The stock was sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. In related news, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction on Monday, July 29th. The stock was sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC lifted its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Thermo Fisher Scientific in the first quarter valued at about $32,000. Finally, Bank & Trust Co bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $33,000. 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.