Thermo Fisher Scientific (NYSE:TMO) Price Target Lowered to $622.00 at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO) had its price target cut by Robert W. Baird from $632.00 to $622.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

A number of other research firms also recently issued reports on TMO. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Morgan Stanley increased their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Barclays cut their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Trading Down 0.5 %

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

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $5.69 EPS. As a group, research analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’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 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 approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brookstone Capital Management grew its stake 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 valued at $2,550,000 after purchasing an additional 3,142 shares during the last quarter. BDF Gestion bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $6,368,000. Aviance Capital Partners LLC boosted its stake in Thermo Fisher Scientific by 20.9% in the first quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock valued at $7,581,000 after acquiring an additional 2,251 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings 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 purchasing an additional 1,480 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in shares of 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 worth $64,613,000 after purchasing an additional 6,089 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.