Citigroup Issues Pessimistic Forecast for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO) had its price target trimmed by Citigroup from $650.00 to $570.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the medical research company’s stock.

A number of other brokerages also recently issued reports on TMO. Scotiabank increased their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a report on Friday, January 31st. Finally, UBS Group raised their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $653.23.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $527.43 on Tuesday. Thermo Fisher Scientific has a 12 month low of $493.30 and a 12 month high of $627.88. The stock’s 50 day moving average is $548.99 and its 200-day moving average is $563.21. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $198.98 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 2.99 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities research analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.43 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,125 shares of company stock worth $11,095,799. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several large investors have recently made changes to their positions in TMO. Howard Capital Management Group LLC grew its stake in shares of Thermo Fisher Scientific by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock valued at $33,759,000 after buying an additional 286 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of Thermo Fisher Scientific by 40.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,001 shares of the medical research company’s stock valued at $577,000 after buying an additional 290 shares during the period. Moloney Securities Asset Management LLC boosted its stake in Thermo Fisher Scientific by 9.5% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 2,574 shares of the medical research company’s stock valued at $1,592,000 after purchasing an additional 224 shares during the last quarter. FSM Wealth Advisors LLC bought a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $210,000. Finally, Cary Street Partners Asset Management LLC increased its holdings in Thermo Fisher Scientific by 6.5% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 5,684 shares of the medical research company’s stock worth $3,516,000 after purchasing an additional 346 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.