Thermo Fisher Scientific (NYSE:TMO) PT Lowered to $600.00 at Evercore ISI

Thermo Fisher Scientific (NYSE:TMO) had its price objective reduced by investment analysts at Evercore ISI from $615.00 to $600.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s target price points to a potential upside of 12.03% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Finally, HSBC raised their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.47.

Thermo Fisher Scientific Trading Up 0.3 %

NYSE:TMO opened at $535.56 on Tuesday. The company has a 50-day moving average price of $573.89 and a 200-day moving average price of $563.61. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The stock has a market cap of $204.43 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 2.58 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Equities analysts predict that Thermo Fisher Scientific will post 21.65 EPS for the current year.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,238,340.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,000 shares of company stock valued at $12,532,780. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several large investors have recently added to or reduced their stakes in TMO. WCM Investment Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock worth $527,524,000 after buying an additional 2,928 shares in the last quarter. Summa Corp. purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $418,000. Phoenix Holdings Ltd. lifted its holdings in shares of Thermo Fisher Scientific by 21.4% in the third quarter. Phoenix Holdings Ltd. now owns 9,366 shares of the medical research company’s stock worth $4,750,000 after buying an additional 1,654 shares in the last quarter. S. R. Schill & Associates lifted its holdings in shares of Thermo Fisher Scientific by 106.3% in the fourth quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock worth $816,000 after buying an additional 792 shares in the last quarter. Finally, Tsfg LLC lifted its holdings in shares of Thermo Fisher Scientific by 8.3% in the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock worth $132,000 after buying an additional 19 shares in the last quarter. 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.