Scotiabank Issues Pessimistic Forecast for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO) had its target price dropped by investment analysts at Scotiabank from $650.00 to $605.00 in a report released on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the medical research company’s stock. Scotiabank’s price objective points to a potential upside of 42.68% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group cut their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday. Raymond James restated an “outperform” rating and set a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Barclays cut their price target on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $616.95.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $424.02 on Friday. The company’s 50 day simple moving average is $487.28 and its 200 day simple moving average is $527.17. The stock has a market capitalization of $160.06 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific has a 1 year low of $409.85 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. As a group, research analysts predict that Thermo Fisher Scientific will post 23.28 EPS for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In related news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock valued at $13,106,062. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stonegate Investment Group LLC lifted its stake in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after purchasing an additional 18 shares during the period. Semus Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 4.0% in the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares during the last quarter. Bangor Savings Bank increased its position in Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares in the last quarter. Eagle Rock Investment Company LLC boosted its holdings in Thermo Fisher Scientific by 0.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after acquiring an additional 19 shares in the last quarter. Finally, KRS Capital Management LLC increased its holdings in shares of Thermo Fisher Scientific by 1.5% during the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock valued at $685,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.