Thermo Fisher Scientific (NYSE:TMO) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Thermo Fisher Scientific (NYSE:TMO) from a buy rating to a hold rating in a research note published on Monday.

TMO has been the subject of a number of other reports. Evercore ISI lowered their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. TD Cowen raised their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Thermo Fisher Scientific Stock Up 0.8 %

NYSE TMO opened at $536.47 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 52 week low of $493.30 and a 52 week high of $627.88. The business’s fifty day simple moving average is $530.39 and its 200-day simple moving average is $568.53. The firm has a market cap of $205.20 billion, a PE ratio of 33.63, a P/E/G ratio of 3.54 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.69 EPS. As a group, equities analysts anticipate that Thermo Fisher Scientific will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TMO. International Assets Investment Management LLC increased its stake in Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares in the last quarter. FMR LLC raised its stake in shares of Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 worth $1,372,157,000 after buying an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Thermo Fisher Scientific during the 3rd quarter valued at about $254,412,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Thermo Fisher Scientific by 743.6% in the second 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 owned by hedge funds and other 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.