Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $610.00

Thermo Fisher Scientific (NYSE:TMO) had its target price cut by equities researchers at Barclays from $620.00 to $610.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target points to a potential upside of 6.82% from the stock’s current price.

Several other equities analysts have also recently commented on TMO. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Stifel Nicolaus boosted their target price on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Evercore ISI boosted their target price on Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $655.50.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $15.30 during trading hours on Wednesday, reaching $571.08. The stock had a trading volume of 1,122,310 shares, compared to its average volume of 1,463,272. The stock has a market cap of $218.15 billion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock has a 50 day simple moving average of $607.55 and a 200 day simple moving average of $584.45.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.15 earnings per share. On average, research analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,860,920.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC raised its stake in Thermo Fisher Scientific by 10.9% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 54,977 shares of the medical research company’s stock worth $34,007,000 after acquiring an additional 5,414 shares during the period. Harbour Trust & Investment Management Co raised its stake in Thermo Fisher Scientific by 1.5% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 15,377 shares of the medical research company’s stock worth $9,512,000 after acquiring an additional 226 shares during the period. Investment Research & Advisory Group Inc. raised its position in shares of Thermo Fisher Scientific by 17.5% during the third quarter. Investment Research & Advisory Group Inc. now owns 4,214 shares of the medical research company’s stock valued at $2,607,000 after buying an additional 627 shares during the last quarter. DT Investment Partners LLC raised its position in shares of Thermo Fisher Scientific by 3.6% during the third quarter. DT Investment Partners LLC now owns 1,364 shares of the medical research company’s stock valued at $844,000 after buying an additional 48 shares during the last quarter. Finally, Mcdaniel Terry & Co. raised its position in shares of Thermo Fisher Scientific by 3.2% during the third quarter. Mcdaniel Terry & Co. now owns 29,700 shares of the medical research company’s stock valued at $18,372,000 after buying an additional 911 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

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.