Thermo Fisher Scientific (NYSE:TMO) Rating Lowered to Hold at StockNews.com

Thermo Fisher Scientific (NYSE:TMO) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Several other brokerages also recently weighed in on TMO. Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Stephens initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Finally, Sanford C. Bernstein cut their target price on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $650.05.

Thermo Fisher Scientific Trading Up 0.8 %

Shares of NYSE:TMO traded up $4.45 during mid-day trading on Monday, reaching $536.47. 1,981,826 shares of the company were exchanged, compared to its average volume of 1,771,509. The firm has a market cap of $205.20 billion, a price-to-earnings ratio of 33.63, a P/E/G ratio of 3.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific has a 1 year low of $493.30 and a 1 year high of $627.88. The firm’s 50-day simple moving average is $530.39 and its 200 day simple moving average is $568.53.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the previous year, the business earned $5.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific will post 21.68 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Thermo Fisher Scientific by 76,051.4% during the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after acquiring an additional 1,414,556 shares during the period. FMR LLC grew its stake in shares of Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Thermo Fisher Scientific during the third quarter worth about $254,412,000. Finally, Point72 Asset Management L.P. grew its position in Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after buying an additional 296,646 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.