Citigroup Cuts Thermo Fisher Scientific (NYSE:TMO) Price Target to $570.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective decreased by stock analysts at Citigroup from $650.00 to $570.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Citigroup’s price target would suggest a potential upside of 10.38% from the stock’s current price.

A number of other equities analysts have also recently issued reports on TMO. Scotiabank raised their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. UBS Group raised their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Bank of America lowered their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $653.23.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded down $7.25 during trading hours on Tuesday, hitting $516.40. 902,255 shares of the stock were exchanged, compared to its average volume of 2,013,046. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific has a one year low of $493.30 and a one year high of $627.88. The company’s 50 day moving average is $549.32 and its 200 day moving average is $564.35. The firm has a market capitalization of $194.82 billion, a P/E ratio of 31.24, a P/E/G ratio of 2.99 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, research analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. The trade was a 26.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. 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

A number of large investors have recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $49,000. Menard Financial Group LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $91,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $195,049,000. Brooklyn FI LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $633,000. Finally, Brucke Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $221,000. 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.