Thermo Fisher Scientific (NYSE:TMO) Given New $718.00 Price Target at Royal Bank of Canada

Thermo Fisher Scientific (NYSE:TMO) had its price objective cut by investment analysts at Royal Bank of Canada from $767.00 to $718.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s target price points to a potential upside of 27.51% from the stock’s previous close.

TMO has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America raised their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $650.80.

Thermo Fisher Scientific Stock Down 2.3 %

Shares of NYSE:TMO traded down $13.39 during midday trading on Thursday, reaching $563.10. 790,149 shares of the company were exchanged, compared to its average volume of 1,464,548. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two 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 stock has a fifty day simple moving average of $607.04 and a two-hundred day simple moving average of $584.39. The firm has a market cap of $215.10 billion, a PE ratio of 34.93, a P/E/G ratio of 3.75 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter last year, the firm earned $5.15 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insiders Place Their Bets

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 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 sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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 sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Signature Resources Capital Management LLC lifted its position 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 acquiring an additional 35 shares during the period. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC raised its holdings in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific during the first quarter worth $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific during the second quarter worth $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.