Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $665.00

Thermo Fisher Scientific (NYSE:TMO) had its price target cut by stock analysts at Stifel Nicolaus from $680.00 to $665.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 19.95% from the stock’s current price.

A number of other analysts also recently weighed in on TMO. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays cut their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday. Raymond James boosted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Down 0.5 %

Shares of NYSE:TMO opened at $554.38 on Thursday. The company has a 50 day moving average of $606.12 and a 200-day moving average of $584.21. Thermo Fisher Scientific has a one year low of $420.21 and a one year high of $627.88. The stock has a market cap of $211.77 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37.

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

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 6,300 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $74,548,375.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Institutional investors have recently bought and sold shares of the business. Signature Resources Capital Management LLC increased its position 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 buying an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC grew its position 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 during the last quarter. Headlands Technologies LLC acquired a new position in shares of Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Institutional investors and hedge funds 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.