Wells Fargo & Company Issues Pessimistic Forecast for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO) had its target price cut by Wells Fargo & Company from $580.00 to $570.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird decreased 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. Barclays cut their price objective on 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. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group upped their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $618.68.

Thermo Fisher Scientific Stock Down 1.2 %

Shares of TMO stock opened at $426.57 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock has a market cap of $161.03 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The business’s fifty day moving average is $489.25 and its 200-day moving average is $528.84. 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 quarterly 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. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities analysts expect that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a $0.43 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.40%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.41%.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $13,106,062 over the last quarter. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently modified their holdings of TMO. Nordea Investment Management AB raised its position in shares of Thermo Fisher Scientific by 23.6% during the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after buying an additional 10,606 shares during the last quarter. S.E.E.D. Planning Group LLC grew its position in Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after acquiring an additional 618 shares during the period. Czech National Bank lifted its holdings in shares of Thermo Fisher Scientific by 6.6% during the fourth quarter. Czech National Bank now owns 82,934 shares of the medical research company’s stock valued at $43,145,000 after acquiring an additional 5,118 shares during the period. Douglas Lane & Associates LLC boosted its stake in shares of Thermo Fisher Scientific by 1.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 182,511 shares of the medical research company’s stock valued at $94,948,000 after purchasing an additional 3,460 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $4,758,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.