Thermo Fisher Scientific (NYSE:TMO) Given New $500.00 Price Target at UBS Group

Thermo Fisher Scientific (NYSE:TMO) had its price target trimmed by UBS Group from $715.00 to $500.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other brokerages have also recently commented on TMO. Wells Fargo & Company decreased their price target on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a report on Friday, January 31st. 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 research report on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $616.95.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $424.02 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific has a 52 week low of $409.85 and a 52 week high of $627.88. The stock’s 50-day simple moving average is $487.28 and its 200-day simple moving average is $527.17. The company has a market capitalization of $160.06 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a dividend of $0.43 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.09%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were 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 $59,506,950.58. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the sale, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $13,106,062 in the last quarter. 0.33% of the stock is owned by insiders.

Institutional Trading of Thermo Fisher Scientific

Hedge funds have recently added to or reduced their stakes in the business. Stonegate Investment Group LLC lifted its position in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after purchasing an additional 18 shares during the period. Semus Wealth Partners LLC lifted its holdings in Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares during the period. Bangor Savings Bank boosted its position in Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after acquiring an additional 19 shares in the last quarter. Eagle Rock Investment Company LLC raised its position in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after acquiring an additional 19 shares in the last quarter. Finally, KRS Capital Management LLC boosted its position in Thermo Fisher Scientific by 1.5% during the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock valued at $685,000 after purchasing an additional 20 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.