Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $600.00 by Analysts at Evercore ISI

Thermo Fisher Scientific (NYSE:TMO) had its target price lowered by Evercore ISI from $615.00 to $600.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

A number of other analysts have also commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. HSBC boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a buy rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. Barclays dropped their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a research note on Friday, June 28th. Finally, Robert W. Baird cut their target price on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating for the company in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $606.47.

Thermo Fisher Scientific Trading Down 1.4 %

Shares of TMO stock opened at $533.93 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $203.81 billion, a P/E ratio of 34.32, a P/E/G ratio of 2.58 and a beta of 0.77. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The firm has a 50-day moving average price of $574.71 and a 200 day moving average price of $563.50.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. Research analysts forecast that Thermo Fisher Scientific will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the sale, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,430,359.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,238,340.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock worth $12,532,780 in the last three months. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently bought and sold shares of TMO. Hudson Valley Investment Advisors Inc. ADV boosted its position in shares of Thermo Fisher Scientific by 3.1% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 19,507 shares of the medical research company’s stock valued at $10,560,000 after purchasing an additional 580 shares in the last quarter. GAMMA Investing LLC increased its holdings in Thermo Fisher Scientific by 27.6% in the second quarter. GAMMA Investing LLC now owns 3,736 shares of the medical research company’s stock worth $2,066,000 after purchasing an additional 807 shares in the last quarter. Park Place Capital Corp grew its position in shares of Thermo Fisher Scientific by 9.7% during the 2nd quarter. Park Place Capital Corp now owns 2,776 shares of the medical research company’s stock worth $1,535,000 after buying an additional 246 shares during the period. Transcend Capital Advisors LLC boosted its stake in Thermo Fisher Scientific by 3.5% during the second quarter. Transcend Capital Advisors LLC now owns 7,831 shares of the medical research company’s stock worth $4,330,000 after acquiring an additional 268 shares in the last quarter. Finally, Red Spruce Capital LLC increased its stake in Thermo Fisher Scientific by 5.2% in the second quarter. Red Spruce Capital LLC now owns 1,526 shares of the medical research company’s stock valued at $844,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds 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.