Barclays Cuts Thermo Fisher Scientific (NYSE:TMO) Price Target to $450.00

Thermo Fisher Scientific (NYSE:TMO) had its target price reduced by Barclays from $475.00 to $450.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird cut their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Evercore ISI decreased their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus dropped their price target on 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, The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $604.05.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $412.02 on Tuesday. The stock has a 50-day moving average price of $410.11 and a two-hundred day moving average price of $484.47. Thermo Fisher Scientific has a 12 month low of $385.46 and a 12 month high of $627.88. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $155.53 billion, a PE ratio of 24.17, a P/E/G ratio of 2.17 and a beta of 0.78.

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

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a yield of 0.42%. Thermo Fisher Scientific’s payout ratio is currently 10.09%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president now owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Hedge funds have recently bought and sold shares of the stock. One Charles Private Wealth Services LLC raised its stake in Thermo Fisher Scientific by 4.2% during the 4th quarter. One Charles Private Wealth Services LLC now owns 499 shares of the medical research company’s stock valued at $260,000 after purchasing an additional 20 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares in the last quarter. Holderness Investments Co. lifted its position in shares of Thermo Fisher Scientific by 1.7% in the fourth quarter. Holderness Investments Co. now owns 1,277 shares of the medical research company’s stock worth $664,000 after buying an additional 21 shares in the last quarter. Port Capital LLC increased its position in Thermo Fisher Scientific by 1.6% in the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company’s stock worth $721,000 after purchasing an additional 22 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its stake in Thermo Fisher Scientific by 0.5% during the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company’s stock valued at $2,312,000 after purchasing an additional 23 shares in the last quarter. 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.