Thermo Fisher Scientific (NYSE:TMO) Given New $620.00 Price Target at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO) had its price target cut by Robert W. Baird from $621.00 to $620.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other brokerages have also issued reports on TMO. Barclays lowered Thermo Fisher Scientific from an overweight rating to an equal weight rating and boosted their price target for the company from $475.00 to $555.00 in a research note on Wednesday, January 24th. The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Raymond James boosted their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada boosted their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of Moderate Buy and an average target price of $606.76.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $572.10 on Thursday. The stock’s 50-day moving average is $573.08 and its 200-day moving average is $529.36. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The stock has a market cap of $218.38 billion, a P/E ratio of 36.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.80. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating 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 business had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Equities research analysts anticipate that Thermo Fisher Scientific will post 21.52 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marc N. Casper sold 5,547 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $550.62, for a total transaction of $3,054,289.14. Following the sale, the chief executive officer now owns 43,608 shares of the company’s stock, valued at approximately $24,011,436.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares in the company, valued at approximately $27,311,992.65. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock worth $28,513,384 in the last quarter. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Thermo Fisher Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. Northwest Financial Advisors purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $29,000. True Wealth Design LLC raised its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. Pineridge Advisors LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $39,000. Cape Investment Advisory Inc. grew its position in shares of Thermo Fisher Scientific by 52.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after buying an additional 26 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in shares of Thermo Fisher Scientific by 49.1% during the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after purchasing an additional 27 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.