Thermo Fisher Scientific (NYSE:TMO) Given New $610.00 Price Target at Barclays

Thermo Fisher Scientific (NYSE:TMO) had its price objective decreased by investment analysts at Barclays from $620.00 to $610.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target would suggest a potential upside of 9.44% from the company’s previous close.

Several other brokerages have also recently weighed in on TMO. Evercore ISI increased their price target on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Redburn Atlantic started coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price target on the stock. Robert W. Baird increased their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $557.38 on Wednesday. The firm has a market cap of $212.92 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.75 and a beta of 0.77. The company has a 50-day simple moving average of $607.04 and a two-hundred day simple moving average of $584.39. 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 has a 12-month low of $415.60 and a 12-month high of $627.88.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $10.63 billion. During the same period last year, the company earned $5.69 EPS. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insiders Place Their Bets

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 transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 6,300 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,548,375.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Hedge funds have recently bought and sold shares of the business. Signature Resources Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the second quarter worth about $29,000. Stephens Consulting LLC grew its stake in shares of Thermo Fisher Scientific by 116.0% during the 2nd 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 period. Headlands Technologies LLC purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at about $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $33,000. Hedge funds and other institutional investors 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.