Argus Issues Pessimistic Forecast for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO) had its price objective reduced by research analysts at Argus from $620.00 to $470.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Argus’ price objective suggests a potential upside of 9.69% from the stock’s current price.

Other analysts have also issued research reports about the company. Scotiabank lowered their target price on Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating for the company in a report on Friday, April 25th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a report on Thursday, April 24th. StockNews.com lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Finally, Citigroup lowered their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $607.43.

Thermo Fisher Scientific Stock Up 0.2 %

Shares of NYSE TMO opened at $428.48 on Tuesday. 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 firm has a market capitalization of $161.75 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.99 and a beta of 0.86. The stock has a 50 day moving average price of $480.79 and a 200 day moving average price of $524.13. Thermo Fisher Scientific has a 52-week low of $409.85 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Thermo Fisher Scientific’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.11 earnings per share. Sell-side analysts expect 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, SVP Michael A. Boxer sold 3,775 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at approximately $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’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 completion of the transaction, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at $9,960,188.31. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,200 shares of company stock valued at $13,235,041 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ramsay Stattman Vela & Price Inc. increased its position in shares of Thermo Fisher Scientific by 6.0% in the first quarter. Ramsay Stattman Vela & Price Inc. now owns 16,211 shares of the medical research company’s stock valued at $8,067,000 after buying an additional 918 shares in the last quarter. Processus Wealth & Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 2.2% in the first quarter. Processus Wealth & Capital Management LLC now owns 6,107 shares of the medical research company’s stock valued at $3,039,000 after buying an additional 134 shares in the last quarter. Investment Management Associates Inc. ADV purchased a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $280,000. Covey Capital Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $244,000. Finally, Cerity Partners LLC increased its position in shares of Thermo Fisher Scientific by 40.4% in the first quarter. Cerity Partners LLC now owns 226,777 shares of the medical research company’s stock valued at $112,845,000 after buying an additional 65,262 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.