Wells Fargo & Company Has Lowered Expectations for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO) had its price target cut by stock analysts at Wells Fargo & Company from $680.00 to $580.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 34.69% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Scotiabank raised their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a research report on Friday, January 10th. Citigroup cut their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, UBS Group raised their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $642.67.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock traded down $6.17 during midday trading on Thursday, hitting $430.62. 1,379,194 shares of the company’s stock were exchanged, compared to its average volume of 1,709,907. The stock has a 50-day moving average price of $502.59 and a two-hundred day moving average price of $536.26. The company has a market cap of $162.56 billion, a P/E ratio of 26.05, a PEG ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific has a 52-week low of $409.85 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

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 the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, equities research analysts forecast that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Insider Transactions at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the sale, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $13,106,062 over the last 90 days. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $3,149,754,000. GAMMA Investing LLC boosted its stake in shares of Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company’s stock worth $1,203,859,000 after buying an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock worth $1,604,338,000 after purchasing an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock worth $469,889,000 after purchasing an additional 858,193 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in Thermo Fisher Scientific by 68,617.0% during the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock valued at $396,810,000 after buying an additional 761,649 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other 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.