Thermo Fisher Scientific (NYSE:TMO) Given New $470.00 Price Target at Argus

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price objective dropped by stock analysts at Argus from $620.00 to $470.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the medical research company's stock. Argus' target price indicates a potential upside of 10.93% from the company's previous close.

Several other equities analysts have also weighed in on the company. Evercore ISI cut their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Raymond James reaffirmed an "outperform" rating and issued a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Royal Bank of Canada lowered their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research 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, Barclays dropped their price target 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. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $607.43.

Thermo Fisher Scientific Trading Up 0.9 %

Thermo Fisher Scientific stock traded up $3.80 during mid-day trading on Tuesday, hitting $423.69. The stock had a trading volume of 2,492,422 shares, compared to its average volume of 1,769,243. The stock has a 50-day simple moving average of $476.15 and a two-hundred day simple moving average of $521.64. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $159.94 billion, a PE ratio of 25.63, a P/E/G ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific has a 12 month low of $409.85 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) 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. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the previous year, the company earned $5.11 EPS. Thermo Fisher Scientific's revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Insider Buying and Selling

In other news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares of the company's stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $5,166,700.00. Following the sale, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,200 shares of company stock valued at $13,235,041. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TMO. Norges Bank acquired a new stake in Thermo Fisher Scientific in the 4th quarter worth about $3,149,754,000. GAMMA Investing LLC grew its position in Thermo Fisher Scientific by 60,610.9% during the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after buying an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC lifted its position in shares of Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after acquiring an additional 858,193 shares during the period. Finally, Proficio Capital Partners LLC increased its position in shares of Thermo Fisher Scientific by 68,617.0% in the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock worth $396,810,000 after purchasing an additional 761,649 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

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.