Thermo Fisher Scientific (NYSE:TMO) Given New $660.00 Price Target at Wells Fargo & Company

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

TMO has been the topic of several other research reports. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Bank of America boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Barclays decreased their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Finally, Stifel Nicolaus lifted their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a report on Friday, September 20th. Four research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Down 0.5 %

Shares of TMO stock opened at $554.38 on Thursday. The stock has a 50 day moving average of $605.12 and a 200-day moving average of $584.07. The firm has a market cap of $211.62 billion, a PE ratio of 35.56, 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 12 month low of $420.21 and a 12 month high of $627.88.

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 (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $5.69 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts predict that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently made changes to their positions in TMO. Signature Resources Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. New Millennium Group LLC bought a new position in Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC increased its stake in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the last quarter. Headlands Technologies LLC bought a new position in Thermo Fisher Scientific during the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific during the second quarter valued at approximately $33,000. Institutional investors own 89.23% of the company’s stock.

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.