Thermo Fisher Scientific (NYSE:TMO) Shares Gap Down to $547.25

Thermo Fisher Scientific Inc. (NYSE:TMO) gapped down before the market opened on Thursday . The stock had previously closed at $547.25, but opened at $534.80. Thermo Fisher Scientific shares last traded at $537.63, with a volume of 340,357 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TMO. The Goldman Sachs Group boosted their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Citigroup began coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price target on the stock. Barclays cut shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Finally, TheStreet raised Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a report on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $604.69.

Thermo Fisher Scientific Price Performance

The firm’s 50-day moving average is $571.27 and its 200-day moving average is $527.45. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $207.95 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.28 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, beating analysts’ consensus estimates of $5.64 by $0.03. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The company had revenue of $10.89 billion for the quarter, compared to analysts’ expectations of $10.73 billion. During the same period last year, the firm posted $5.40 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.51 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is currently 10.10%.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares in the company, valued at approximately $27,311,992.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several hedge funds have recently made changes to their positions in TMO. Cohen Investment Advisors LLC increased its position in Thermo Fisher Scientific by 18.1% during the 1st quarter. Cohen Investment Advisors LLC now owns 5,314 shares of the medical research company’s stock valued at $3,089,000 after purchasing an additional 816 shares during the period. FORVIS Wealth Advisors LLC raised its stake in Thermo Fisher Scientific by 11.7% in the first quarter. FORVIS Wealth Advisors LLC now owns 7,279 shares of the medical research company’s stock worth $4,231,000 after buying an additional 760 shares in the last quarter. Veracity Capital LLC boosted its position in Thermo Fisher Scientific by 20.0% during the 1st quarter. Veracity Capital LLC now owns 737 shares of the medical research company’s stock valued at $428,000 after acquiring an additional 123 shares in the last quarter. Willis Johnson & Associates Inc. purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $206,000. Finally, American National Bank & Trust Co. VA purchased a new stake in Thermo Fisher Scientific in the first quarter worth $7,306,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.