Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $660.00 by Analysts at JPMorgan Chase & Co.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) had its target price trimmed by JPMorgan Chase & Co. from $675.00 to $660.00 in a research report released on Thursday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. SVB Leerink lifted their price objective on Thermo Fisher Scientific from $620.00 to $630.00 and gave the stock an outperform rating in a research note on Thursday, February 2nd. Evercore ISI lowered their target price on Thermo Fisher Scientific from $615.00 to $610.00 and set an outperform rating on the stock in a research report on Tuesday, April 4th. Citigroup decreased their target price on Thermo Fisher Scientific from $700.00 to $650.00 in a research report on Thursday, April 27th. Barclays cut their target price on Thermo Fisher Scientific from $625.00 to $610.00 in a research note on Thursday, April 27th. Finally, Morgan Stanley decreased their price objective on Thermo Fisher Scientific from $670.00 to $620.00 in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $631.31.

Thermo Fisher Scientific Trading Up 1.9 %

Shares of Thermo Fisher Scientific stock opened at $520.64 on Thursday. Thermo Fisher Scientific has a fifty-two week low of $475.77 and a fifty-two week high of $611.06. The firm has a market cap of $200.82 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $553.32 and a 200-day simple moving average of $554.74.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last issued its earnings results on Wednesday, April 26th. The medical research company reported $5.03 earnings per share for the quarter, hitting the consensus estimate of $5.03. Thermo Fisher Scientific had a return on equity of 19.16% and a net margin of 13.75%. The company had revenue of $10.71 billion for the quarter, compared to analyst estimates of $10.67 billion. During the same period in the prior year, the firm posted $7.25 EPS. The business’s revenue was down 9.4% compared to the same quarter last year. On average, equities analysts forecast that Thermo Fisher Scientific will post 23.7 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.13%.

Insider Activity

In related news, CEO Marc N. Casper sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $544.49, for a total transaction of $4,083,675.00. Following the completion of the sale, the chief executive officer now directly owns 66,655 shares in the company, valued at $36,292,980.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Marc N. Casper sold 1,600 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $534.82, for a total value of $855,712.00. Following the transaction, the chief executive officer now directly owns 141,330 shares of the company’s stock, valued at approximately $75,586,110.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 7,500 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $544.49, for a total transaction of $4,083,675.00. Following the completion of the transaction, the chief executive officer now directly owns 66,655 shares in the company, valued at $36,292,980.95. The disclosure for this sale can be found here. Insiders sold 19,100 shares of company stock worth $10,391,587 over the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of large investors have recently added to or reduced their stakes in TMO. Silicon Valley Capital Partners purchased a new position in Thermo Fisher Scientific in the first quarter valued at approximately $29,000. OLD Mission Capital LLC acquired a new position in Thermo Fisher Scientific in the fourth quarter worth $31,000. Richard W. Paul & Associates LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $34,000. Live Oak Investment Partners bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at about $36,000. Finally, Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific in the first quarter worth about $43,000. 85.92% of the stock is owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.