Citigroup Cuts Thermo Fisher Scientific (NYSE:TMO) Price Target to $570.00

Thermo Fisher Scientific (NYSE:TMO) had its target price reduced by Citigroup from $650.00 to $570.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other equities research analysts also recently weighed in on TMO. UBS Group boosted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Raymond James reaffirmed an “outperform” rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Bank of America decreased their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.23.

Thermo Fisher Scientific Trading Up 0.6 %

TMO stock opened at $527.43 on Tuesday. The company has a market cap of $198.98 billion, a P/E ratio of 31.91, a PEG ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $548.99 and a 200-day moving average of $563.21.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities research analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s payout ratio is 10.41%.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the sale, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,125 shares of company stock worth $11,095,799. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Institutional investors and hedge funds have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $27,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Finally, FPC Investment Advisory Inc. bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. 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.