Wells Fargo & Company Lowers Thermo Fisher Scientific (NYSE:TMO) Price Target to $660.00

Thermo Fisher Scientific (NYSE:TMO) had its price target dropped by stock analysts at Wells Fargo & Company from $670.00 to $660.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 19.05% from the stock’s current price.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday. Bank of America upped their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Bernstein Bank boosted their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $554.38 on Thursday. Thermo Fisher Scientific has a twelve month low of $420.21 and a twelve month high of $627.88. The company has a market cap of $211.77 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77. The business’s 50 day moving average price is $606.12 and its two-hundred day moving average price is $584.21. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the prior year, the business earned $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Marc N. Casper sold 6,300 shares of the firm’s 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 transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $74,548,375.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors have recently added to or reduced their stakes in the stock. Brookstone Capital Management lifted its stake in shares of Thermo Fisher Scientific by 252.4% in the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares during the period. New England Research & Management Inc. bought a new position in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $349,000. KRS Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 6.2% in the 1st quarter. KRS Capital Management LLC now owns 1,430 shares of the medical research company’s stock valued at $831,000 after acquiring an additional 83 shares in the last quarter. S.E.E.D. Planning Group LLC lifted its position in shares of Thermo Fisher Scientific by 3.8% during the 1st quarter. S.E.E.D. Planning Group LLC now owns 10,178 shares of the medical research company’s stock valued at $5,916,000 after acquiring an additional 371 shares during the period. Finally, Independence Bank of Kentucky grew its holdings in Thermo Fisher Scientific by 4.3% in the first quarter. Independence Bank of Kentucky now owns 2,715 shares of the medical research company’s stock worth $1,578,000 after purchasing an additional 112 shares during the period. 89.23% of the stock is currently owned by institutional investors.

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.