Thermo Fisher Scientific (NYSE:TMO) Given New $620.00 Price Target at Sanford C. Bernstein

Thermo Fisher Scientific (NYSE:TMO) had its price target lowered by Sanford C. Bernstein from $625.00 to $620.00 in a report published on Thursday, Benzinga reports. The firm currently has a market perform rating on the medical research company’s stock.

A number of other research firms also recently weighed in on TMO. Raymond James increased their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stephens began coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday. Morgan Stanley increased their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO traded up $2.35 during trading hours on Thursday, reaching $559.73. The stock had a trading volume of 183,891 shares, compared to its average volume of 1,463,035. Thermo Fisher Scientific has a 12 month low of $420.21 and a 12 month high of $627.88. The stock has a market capitalization of $213.82 billion, a PE ratio of 34.58, a PEG ratio of 3.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The company’s 50-day moving average is $607.04 and its two-hundred day moving average is $584.39.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly 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 company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.69 EPS. Research analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, July 29th. The stock was 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 in the company, valued at approximately $74,548,375.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Large investors have recently modified their holdings of the stock. Signature Resources Capital Management LLC grew 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 valued at $25,000 after buying an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $29,000. Stephens Consulting LLC grew its position 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 in the last quarter. Headlands Technologies LLC purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $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.