Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $600.00

Thermo Fisher Scientific (NYSE:TMO) had its target price reduced by Barclays from $615.00 to $600.00 in a report published on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the medical research company’s stock.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group reissued a buy rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a report on Thursday, April 25th. The Goldman Sachs Group raised their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a report on Wednesday, April 10th. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating on the stock in a report on Thursday, April 25th. Finally, Citigroup started coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a neutral rating and a $620.00 price target on the stock. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of Moderate Buy and an average target price of $607.06.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $553.00 on Friday. The company has a market cap of $211.09 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.58 and a beta of 0.79. 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 50-day moving average price of $574.84 and a 200-day moving average price of $563.36. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82.

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. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, equities analysts forecast that Thermo Fisher Scientific will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Beaumont Financial Advisors LLC raised its stake in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after purchasing an additional 17 shares during the last quarter. Cedar Wealth Management LLC increased its position in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after acquiring an additional 17 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in Thermo Fisher Scientific by 6.9% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 294 shares of the medical research company’s stock valued at $156,000 after acquiring an additional 19 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Thermo Fisher Scientific by 3.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 526 shares of the medical research company’s stock valued at $279,000 after acquiring an additional 19 shares during the last quarter. Finally, Tsfg LLC increased its position in Thermo Fisher Scientific by 8.3% during the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other 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.