Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $620.00 by Analysts at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO) had its price target cut by Robert W. Baird from $621.00 to $620.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other brokerages have also issued reports on TMO. HSBC lifted their price target on Thermo Fisher Scientific from $630.00 to $660.00 and gave the company a buy rating in a report on Wednesday, April 17th. Barclays lowered Thermo Fisher Scientific from an overweight rating to an equal weight rating and lifted their price target for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. The Goldman Sachs Group lifted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a report on Wednesday, April 10th. Sanford C. Bernstein reiterated a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Raymond James lifted their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $606.76.

Thermo Fisher Scientific Trading Up 0.3 %

Shares of NYSE TMO opened at $573.60 on Thursday. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $603.82. The firm has a market capitalization of $218.95 billion, a PE ratio of 36.79, a PEG ratio of 2.42 and a beta of 0.80. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $573.60 and a two-hundred day moving average price of $530.40.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. As a group, analysts predict that Thermo Fisher Scientific will post 21.56 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.39 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the sale, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,547 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $550.62, for a total value of $3,054,289.14. Following the transaction, the chief executive officer now owns 43,608 shares of the company’s stock, valued at $24,011,436.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the transaction, the director now directly owns 1,207 shares in the company, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock valued at $28,513,384 in the last 90 days. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strategic Blueprint LLC lifted its stake in shares of Thermo Fisher Scientific by 7.8% during the third quarter. Strategic Blueprint LLC now owns 1,124 shares of the medical research company’s stock valued at $569,000 after acquiring an additional 81 shares during the period. L. Roy Papp & Associates LLP lifted its stake in shares of Thermo Fisher Scientific by 1.1% during the third quarter. L. Roy Papp & Associates LLP now owns 49,965 shares of the medical research company’s stock valued at $25,291,000 after acquiring an additional 548 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Thermo Fisher Scientific by 2.1% during the third quarter. Asset Management One Co. Ltd. now owns 183,281 shares of the medical research company’s stock valued at $92,771,000 after acquiring an additional 3,730 shares during the period. WestEnd Advisors LLC increased its holdings in Thermo Fisher Scientific by 8.7% in the third quarter. WestEnd Advisors LLC now owns 63,740 shares of the medical research company’s stock valued at $32,263,000 after purchasing an additional 5,111 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC increased its holdings in Thermo Fisher Scientific by 0.8% in the third quarter. Birch Hill Investment Advisors LLC now owns 8,020 shares of the medical research company’s stock valued at $4,059,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds 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.