Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $620.00 at Evercore ISI

Thermo Fisher Scientific (NYSE:TMO) had its price target dropped by equities researchers at Evercore ISI from $630.00 to $620.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target suggests a potential upside of 9.38% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Barclays lowered their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday. Bernstein Bank increased their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $654.00.

Thermo Fisher Scientific Trading Down 1.7 %

Shares of TMO stock traded down $9.66 on Thursday, reaching $566.83. 389,101 shares of the stock were exchanged, compared to its average volume of 1,462,601. The stock has a 50 day moving average price of $607.04 and a 200 day moving average price of $584.39. The stock has a market cap of $216.53 billion, a PE ratio of 35.16, a P/E/G 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. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37.

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

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in Thermo Fisher Scientific by 76,051.4% during the 3rd 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 last quarter. Capital World Investors lifted its position in shares of 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 worth $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Swedbank AB acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Ameriprise Financial Inc. grew its position in 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 during the period. Finally, Point72 Asset Management L.P. increased its stake in Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

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.