Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $600.00

Thermo Fisher Scientific (NYSE:TMO) had its target price cut by Barclays from $615.00 to $600.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other analysts have also issued reports on TMO. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a research note on Thursday, April 25th. Robert W. Baird lowered their target price on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating for the company in a research note on Thursday, April 25th. Citigroup began coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They set a neutral rating and a $620.00 price objective on the stock. HSBC increased their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, Evercore ISI increased their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $607.06.

Thermo Fisher Scientific Trading Down 2.0 %

Shares of TMO opened at $541.72 on Friday. The company’s fifty day moving average is $574.84 and its 200 day moving average is $563.36. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The stock has a market capitalization of $206.79 billion, a PE ratio of 34.75, a P/E/G ratio of 2.58 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Sell-side analysts expect that Thermo Fisher Scientific will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, June 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock valued at $12,532,780 in the last three months. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $2,909,524,000. Capital World Investors boosted its holdings in Thermo Fisher Scientific by 10.0% in the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares in the last quarter. Swedbank AB acquired a new position in Thermo Fisher Scientific in the first quarter valued at approximately $705,636,000. International Assets Investment Management LLC boosted its holdings in Thermo Fisher Scientific by 61,995.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after purchasing an additional 1,008,045 shares in the last quarter. Finally, Veritas Asset Management LLP boosted its holdings in Thermo Fisher Scientific by 70.1% in the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares in the last quarter. Hedge funds and other 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.