Evercore ISI Cuts Thermo Fisher Scientific (NYSE:TMO) Price Target to $500.00

Thermo Fisher Scientific (NYSE:TMO) had its target price cut by Evercore ISI from $585.00 to $500.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

A number of other equities analysts have also recently commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays cut their price target on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup reduced their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $618.68.

Thermo Fisher Scientific Stock Down 1.2 %

TMO stock opened at $426.57 on Thursday. The stock has a market cap of $161.03 billion, a P/E ratio of 25.81, a PEG ratio of 2.99 and a beta of 0.86. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific has a twelve month low of $409.85 and a twelve month high of $627.88. The company’s 50 day moving average is $489.25 and its two-hundred day moving average is $528.84.

Thermo Fisher Scientific (NYSE:TMO) last announced 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. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Research analysts expect that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

A number of hedge funds have recently bought and sold shares of TMO. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $25,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $28,000. Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $29,000. Finally, Pillar Financial Advisors LLC purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. 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.