Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $620.00 by Analysts at Evercore ISI

Thermo Fisher Scientific (NYSE:TMO) had its price objective decreased by Evercore ISI from $630.00 to $620.00 in a research report sent to investors on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the medical research company’s stock.

Several other research firms also recently issued reports on TMO. Royal Bank of Canada restated an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Stifel Nicolaus increased their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday, September 20th. TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bank of America increased their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Four investment 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Trading Down 0.5 %

TMO opened at $554.38 on Thursday. The firm’s 50 day moving average is $605.12 and its 200-day moving average is $584.07. Thermo Fisher Scientific has a 52-week low of $420.21 and a 52-week high of $627.88. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $211.62 billion, a P/E ratio of 35.56, a P/E/G ratio of 3.75 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the business posted $5.69 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Transactions at Thermo Fisher Scientific

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 stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management raised its holdings in Thermo Fisher Scientific by 252.4% during the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after purchasing an additional 3,142 shares in the last quarter. New England Research & Management Inc. bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth $349,000. KRS Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 6.2% in the first quarter. KRS Capital Management LLC now owns 1,430 shares of the medical research company’s stock valued at $831,000 after buying an additional 83 shares during the period. S.E.E.D. Planning Group LLC grew its holdings in Thermo Fisher Scientific by 3.8% during the first quarter. S.E.E.D. Planning Group LLC now owns 10,178 shares of the medical research company’s stock worth $5,916,000 after acquiring an additional 371 shares during the period. Finally, Independence Bank of Kentucky boosted its position in shares of Thermo Fisher Scientific by 4.3% during the 1st quarter. Independence Bank of Kentucky now owns 2,715 shares of the medical research company’s stock valued at $1,578,000 after purchasing an additional 112 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

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.