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

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

A number of other equities research analysts also recently weighed in on TMO. Deutsche Bank Aktiengesellschaft upped their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Jefferies Financial Group reiterated a buy rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Citigroup initiated coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a neutral rating and a $620.00 price target on the stock. Finally, Evercore ISI lifted their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $607.06.

Thermo Fisher Scientific Stock Performance

Shares of NYSE 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 debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a 50-day simple moving average of $574.84 and a 200-day simple moving average of $563.36.

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, topping analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. On average, equities analysts anticipate that Thermo Fisher Scientific will post 21.65 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

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

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were 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 owns 13,083 shares in the company, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,000 shares of company stock valued at $12,532,780. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bright Futures Wealth Management LLC. bought a new stake in Thermo Fisher Scientific during the first quarter worth $228,000. Quent Capital LLC boosted its holdings in shares of Thermo Fisher Scientific by 6.4% in the 1st quarter. Quent Capital LLC now owns 1,867 shares of the medical research company’s stock worth $1,086,000 after purchasing an additional 113 shares in the last quarter. HM Payson & Co. boosted its holdings in Thermo Fisher Scientific by 1.0% during the 1st quarter. HM Payson & Co. now owns 146,242 shares of the medical research company’s stock valued at $84,997,000 after acquiring an additional 1,478 shares during the period. Cypress Asset Management Inc. TX boosted its holdings in Thermo Fisher Scientific by 9.7% during the 1st quarter. Cypress Asset Management Inc. TX now owns 2,886 shares of the medical research company’s stock valued at $1,705,000 after acquiring an additional 254 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Thermo Fisher Scientific by 5.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,377 shares of the medical research company’s stock valued at $784,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.