Evercore ISI Lowers Thermo Fisher Scientific (NYSE:TMO) Price Target to $600.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective cut by stock analysts at Evercore ISI from $615.00 to $600.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target would suggest a potential upside of 12.03% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price target 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. Barclays cut their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group lifted their price target on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, 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 report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $606.47.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $535.56 on Tuesday. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. 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 capitalization of $204.43 billion, a P/E ratio of 34.35, a P/E/G ratio of 2.58 and a beta of 0.77. The company’s 50 day moving average price is $573.89 and its two-hundred day moving average price is $563.61.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results 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 firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. On average, equities analysts forecast that Thermo Fisher Scientific will post 21.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were 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 $7,430,359.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were 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 $7,430,359.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,000 shares of company stock valued at $12,532,780. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors have recently added to or reduced their stakes in TMO. Northwest Financial Advisors bought a new stake in Thermo Fisher Scientific in the 4th quarter worth about $29,000. True Wealth Design LLC grew its position in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. LifeSteps Financial Inc. purchased a new position in Thermo Fisher Scientific in the first quarter valued at about $31,000. Headlands Technologies LLC purchased a new position in Thermo Fisher Scientific in the first quarter valued at about $32,000. Finally, Pineridge Advisors LLC purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $39,000. 89.23% of the stock is 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.