Thermo Fisher Scientific (NYSE:TMO) Shares Gap Down to $567.30

Shares of Thermo Fisher Scientific Inc. (NYSE:TMOGet Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $567.30, but opened at $551.53. Thermo Fisher Scientific shares last traded at $551.30, with a volume of 423,663 shares traded.

Analyst Ratings Changes

A number of research firms recently issued reports on TMO. Barclays lifted their price target on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. The Goldman Sachs Group raised their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Citigroup assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target on the stock. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $605.31.

View Our Latest Report on TMO

Thermo Fisher Scientific Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The business’s 50 day moving average price is $575.32 and its 200-day moving average price is $551.07. The firm has a market capitalization of $216.81 billion, a PE ratio of 36.43, a P/E/G ratio of 2.63 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $10.14 billion. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,039,491.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,000 shares of company stock worth $12,839,780. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $2,909,524,000. Capital World Investors raised its stake in Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Swedbank AB purchased a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $705,636,000. International Assets Investment Management LLC increased its holdings in shares of Thermo Fisher Scientific by 61,995.4% in 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 purchasing an additional 1,008,045 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of 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 worth $492,803,000 after purchasing an additional 967,913 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Company Profile

(Get Free Report)

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.

Further Reading

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