Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $718.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective decreased by equities researchers at Royal Bank of Canada from $767.00 to $718.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 29.51% from the stock’s current price.

A number of other research analysts have also recently commented on TMO. Bernstein Bank upped their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Raymond James boosted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $554.38 on Thursday. The company has a market capitalization of $211.77 billion, a P/E ratio of 34.39, a P/E/G 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 business’s 50-day moving average is $605.12 and its two-hundred day moving average is $584.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the company posted $5.69 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. 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 Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,548,375.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. Signature Resources Capital Management LLC lifted its stake in shares of 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 acquiring an additional 35 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth about $29,000. Stephens Consulting LLC lifted its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the period. Headlands Technologies LLC bought a new position in Thermo Fisher Scientific during the first quarter worth $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.