Thermo Fisher Scientific (NYSE:TMO) Given New $620.00 Price Target at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO) had its price objective dropped by analysts at Robert W. Baird from $621.00 to $620.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price target would indicate a potential upside of 7.34% from the stock’s current price.

Several other research firms have also weighed in on TMO. Royal Bank of Canada increased their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Citigroup began coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. Barclays lowered Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $475.00 to $555.00 in a research note on Wednesday, January 24th. The Goldman Sachs Group increased their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI increased their target price on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $601.56.

Thermo Fisher Scientific Stock Up 0.5 %

NYSE TMO opened at $577.62 on Thursday. The stock has a 50 day moving average price of $572.61 and a 200-day moving average price of $529.06. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $603.82. The company has a market capitalization of $220.48 billion, a P/E ratio of 37.39, a P/E/G ratio of 2.42 and a beta of 0.80. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. As a group, equities analysts predict that Thermo Fisher Scientific will post 21.51 EPS for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In related news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Thermo Fisher Scientific 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 completion of the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 1,207 shares of the company’s stock, 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 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TMO. Norges Bank purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $2,909,524,000. International Assets Investment Management LLC raised its position in Thermo Fisher Scientific by 61,995.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after acquiring an additional 1,008,045 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Thermo Fisher Scientific by 17,046.7% during the third quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock valued at $492,803,000 after acquiring an additional 967,913 shares in the last quarter. Veritas Asset Management LLP raised its position in Thermo Fisher Scientific by 70.1% during the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after acquiring an additional 697,383 shares in the last quarter. Finally, Winslow Capital Management LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $333,786,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.