Royal Bank of Canada Lowers Thermo Fisher Scientific (NYSE:TMO) Price Target to $718.00

Thermo Fisher Scientific (NYSE:TMO) had its target price lowered by Royal Bank of Canada from $767.00 to $718.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

Other analysts have also issued research 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. Raymond James lifted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley increased their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Robert W. Baird dropped their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $554.38 on Thursday. The business’s 50-day moving average is $605.12 and its two-hundred day moving average is $584.07. The company has a market capitalization of $211.62 billion, a P/E ratio of 35.56, a P/E/G ratio of 3.75 and a beta of 0.77. Thermo Fisher Scientific has a fifty-two week low of $420.21 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in TMO. Signature Resources Capital Management LLC grew its position in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $29,000. Stephens Consulting LLC increased its position 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 last quarter. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the first quarter valued at about $32,000. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific during the second quarter worth about $33,000. 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.