Robert W. Baird Cuts Thermo Fisher Scientific (NYSE:TMO) Price Target to $622.00

Thermo Fisher Scientific (NYSE:TMO) had its price target lowered by Robert W. Baird from $632.00 to $622.00 in a research note released on Thursday, Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

Several other equities analysts also recently commented on the company. Stephens initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Wells Fargo & Company initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target on the stock. Stifel Nicolaus boosted their price objective 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. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Trading Down 0.5 %

TMO stock opened at $554.38 on Thursday. Thermo Fisher Scientific has a twelve month low of $420.21 and a twelve month high of $627.88. 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. The firm’s fifty day simple moving average is $605.12 and its two-hundred day simple moving average is $584.00.

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 for the quarter, topping 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 company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the company posted $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,548,375.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’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 value of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signature Resources Capital Management LLC lifted its holdings 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 buying an additional 35 shares during the period. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC grew its stake in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Headlands Technologies LLC purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $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.