Sanford C. Bernstein Cuts Thermo Fisher Scientific (NYSE:TMO) Price Target to $620.00

Thermo Fisher Scientific (NYSE:TMO) had its target price lowered by research analysts at Sanford C. Bernstein from $625.00 to $620.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the medical research company’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 10.11% from the company’s current price.

A number of other research firms have also weighed in on TMO. Barclays lowered 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. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Trading Down 2.3 %

TMO stock traded down $13.44 during mid-day trading on Thursday, reaching $563.05. 957,229 shares of the stock traded hands, compared to its average volume of 1,465,359. The business has a 50-day moving average price of $607.04 and a two-hundred day moving average price of $584.39. 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 stock has a market capitalization of $215.09 billion, a PE ratio of 34.91, a PEG ratio of 3.75 and a beta of 0.77. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.15 earnings per share. Equities research analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marc N. Casper sold 10,000 shares of the 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 in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Thermo Fisher Scientific by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after purchasing an additional 117,353 shares in the last quarter. Capital World Investors lifted its holdings in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Thermo Fisher Scientific by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after purchasing an additional 156,675 shares in the last quarter. Capital Research Global Investors lifted its holdings in Thermo Fisher Scientific by 1.5% in the 1st quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock valued at $4,715,436,000 after purchasing an additional 123,523 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the period. 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.