Thermo Fisher Scientific (NYSE:TMO) Price Target Lowered to $620.00 at Sanford C. Bernstein

Thermo Fisher Scientific (NYSE:TMO) had its price objective dropped by Sanford C. Bernstein from $625.00 to $620.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the medical research company’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 11.84% from the company’s current price.

Several other brokerages have also recently commented on TMO. TD Cowen raised their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday. Bank of America raised their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Bernstein Bank increased their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday. Raymond James boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Trading Down 0.5 %

Shares of NYSE TMO opened at $554.38 on Thursday. 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. The company has a market cap of $211.77 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77. The business has a fifty day simple moving average of $606.12 and a 200-day simple moving average of $584.21.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company posted $5.69 earnings per share. Sell-side analysts predict that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc N. Casper sold 6,300 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,548,375.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors have recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC grew its holdings 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 worth $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC raised 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 buying an additional 29 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $32,000. Finally, Bank & Trust Co bought a new stake in Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

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.