Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $718.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective lowered by Royal Bank of Canada from $767.00 to $718.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

Other research analysts also recently issued research reports about the stock. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Raymond James increased their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. TD Cowen lifted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Robert W. Baird dropped their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

TMO stock opened at $554.38 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 12 month low of $420.21 and a 12 month high of $627.88. The stock has a market cap of $211.62 billion, a PE ratio of 35.56, a P/E/G ratio of 3.75 and a beta of 0.77. The company has a 50-day moving average price of $605.12 and a 200 day moving average price of $584.07.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS 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 firm 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 firm posted $5.69 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several institutional investors have recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC boosted its stake in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth $29,000. Stephens Consulting LLC grew its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at $32,000. Finally, Bank & Trust Co acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.