Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $660.00 at Wells Fargo & Company

Thermo Fisher Scientific (NYSE:TMO) had its price objective lowered by Wells Fargo & Company from $670.00 to $660.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price target for the company. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $554.38 on Thursday. The firm has a 50-day simple moving average of $605.12 and a 200-day simple moving average of $584.00. The stock has a market capitalization of $211.77 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 52 week low of $420.21 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the business earned $5.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,548,375.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s 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 sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 6,300 shares of the firm’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 transaction of $3,793,167.00. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Institutional Trading of Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Group LLC raised its holdings in Thermo Fisher Scientific by 13.0% during the third quarter. Cornerstone Wealth Group LLC now owns 1,045 shares of the medical research company’s stock worth $646,000 after purchasing an additional 120 shares in the last quarter. Oak Harvest Investment Services increased its holdings in shares of Thermo Fisher Scientific by 5.2% in the 3rd quarter. Oak Harvest Investment Services now owns 5,791 shares of the medical research company’s stock valued at $3,582,000 after acquiring an additional 287 shares during the period. Hudson Valley Investment Advisors Inc. ADV increased its holdings in shares of Thermo Fisher Scientific by 2.9% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 20,063 shares of the medical research company’s stock valued at $12,411,000 after acquiring an additional 556 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 43.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 269 shares of the medical research company’s stock valued at $166,000 after acquiring an additional 81 shares during the period. Finally, Diversify Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 11.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 3,549 shares of the medical research company’s stock valued at $2,046,000 after acquiring an additional 378 shares during the period. Institutional investors and hedge funds 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.