Robert W. Baird Lowers Thermo Fisher Scientific (NYSE:TMO) Price Target to $553.00

Thermo Fisher Scientific (NYSE:TMO) had its price target dropped by research analysts at Robert W. Baird from $573.00 to $553.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price target suggests a potential upside of 33.16% from the stock’s current price.

TMO has been the subject of a number of other research reports. UBS Group lowered shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and decreased their target price for the company from $500.00 to $460.00 in a research report on Tuesday, July 8th. Royal Bank Of Canada reduced their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus reduced their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $599.30.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $415.29 on Friday. Thermo Fisher Scientific has a 1 year low of $385.46 and a 1 year high of $627.88. The firm has a 50 day moving average price of $410.38 and a 200 day moving average price of $472.67. The company has a market cap of $156.77 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.21 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.11 earnings per share. Sell-side analysts predict that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the transaction, the executive vice president owned 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Thermo Fisher Scientific by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 33,479,957 shares of the medical research company’s stock valued at $16,659,627,000 after acquiring an additional 230,382 shares during the last quarter. Capital World Investors grew its position in Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock valued at $4,905,812,000 after acquiring an additional 104,343 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Thermo Fisher Scientific by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company’s stock worth $4,075,540,000 after buying an additional 197,442 shares in the last quarter. Norges Bank bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $3,149,754,000. Finally, Northern Trust Corp grew its position in shares of Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock worth $2,034,107,000 after buying an additional 455,004 shares in the last quarter. 89.23% of the stock is 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.