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 note published on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the medical research company’s stock.

A number of other research firms have also weighed in on TMO. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Bernstein Bank increased their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday. Redburn Atlantic initiated 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Five research 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 stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Up 0.5 %

Shares of NYSE:TMO opened at $560.00 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a 52-week low of $420.21 and a 52-week high of $627.88. The firm has a market capitalization of $213.92 billion, a P/E ratio of 34.58, a P/E/G ratio of 3.75 and a beta of 0.77. The stock has a 50 day moving average price of $607.04 and a 200-day moving average price of $584.39.

Thermo Fisher Scientific (NYSE:TMO) last announced 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. The firm had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.69 EPS. As a group, equities research analysts anticipate that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

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

Hedge Funds Weigh In On Thermo Fisher Scientific

Institutional investors have recently bought and sold shares of the business. Brookstone Capital Management grew its position in Thermo Fisher Scientific by 252.4% in the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after acquiring an additional 3,142 shares in the last quarter. BDF Gestion bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $6,368,000. Aviance Capital Partners LLC raised its holdings in Thermo Fisher Scientific by 20.9% during the 1st quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock valued at $7,581,000 after buying an additional 2,251 shares during the period. Lord Abbett & CO. LLC lifted its position in Thermo Fisher Scientific by 1.9% in the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after buying an additional 1,480 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in Thermo Fisher Scientific by 5.8% during the first quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock valued at $64,613,000 after acquiring an additional 6,089 shares during the last quarter. Institutional investors 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.