Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $600.00

Thermo Fisher Scientific (NYSE:TMO) had its target price reduced by research analysts at Barclays from $615.00 to $600.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 8.50% from the company’s previous close.

Several other research firms have also recently issued reports on TMO. Jefferies Financial Group reaffirmed a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. HSBC increased their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Evercore ISI increased their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group increased their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $607.06.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $553.00 on Friday. The firm has a 50 day simple moving average of $574.84 and a 200-day simple moving average of $563.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. The firm has a market cap of $211.09 billion, a PE ratio of 35.47, a P/E/G ratio of 2.57 and a beta of 0.79. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. On average, equities analysts expect that Thermo Fisher Scientific will post 21.65 EPS for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on 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 sale, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,000 shares of company stock worth $12,532,780. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth $31,000. Northwest Financial Advisors bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $29,000. True Wealth Design LLC raised its position in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Thermo Fisher Scientific during the first quarter worth about $32,000. Finally, Pineridge Advisors LLC acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $39,000. 89.23% of the stock is owned by institutional investors and hedge funds.

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.