Evercore ISI Trims Thermo Fisher Scientific (NYSE:TMO) Target Price to $620.00

Thermo Fisher Scientific (NYSE:TMO) had its price target dropped by equities researchers at Evercore ISI from $630.00 to $620.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price objective would indicate a potential upside of 9.38% from the company’s current price.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Raymond James raised their target price 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 objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $654.00.

Thermo Fisher Scientific Stock Down 1.7 %

Shares of NYSE TMO traded down $9.66 during trading on Thursday, reaching $566.83. 389,101 shares of the stock were exchanged, compared to its average volume of 1,462,601. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a market capitalization of $216.53 billion, a price-to-earnings ratio of 35.16, 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. The business’s 50-day moving average price is $607.04 and its 200 day moving average price is $584.39.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.15 earnings per share. As a group, equities analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Activity

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, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,548,375.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 over the last 90 days. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors have recently bought and sold shares of the business. Signature Resources Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC lifted its holdings in shares of Thermo Fisher Scientific by 116.0% during the second 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 period. Headlands Technologies LLC bought a new position in Thermo Fisher Scientific during the 1st quarter valued at about $32,000. Finally, Bank & Trust Co bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Institutional investors and hedge funds 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.