Evercore ISI Has Lowered Expectations for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its target price lowered by Evercore ISI from $500.00 to $480.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the medical research company's stock. Evercore ISI's price target would suggest a potential upside of 15.76% from the company's previous close.

Several other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada cut their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. UBS Group cut their target price on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays lowered their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. Finally, Wells Fargo & Company lowered their price target on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $601.05.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $11.51 on Tuesday, hitting $414.66. The stock had a trading volume of 954,972 shares, compared to its average volume of 2,390,054. Thermo Fisher Scientific has a twelve month low of $385.46 and a twelve month high of $627.88. The business's 50 day moving average is $409.11 and its two-hundred day moving average is $478.29. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. The stock has a market cap of $156.53 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.23 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the prior year, the business earned $5.11 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. Analysts forecast that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TMO. Cypress Advisory Group LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $253,000. Intact Investment Management Inc. raised its stake in Thermo Fisher Scientific by 34.0% in the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock worth $1,353,000 after buying an additional 660 shares in the last quarter. GAMMA Investing LLC grew its holdings in Thermo Fisher Scientific by 22.0% in the first quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock worth $2,419,000 after purchasing an additional 877 shares during the period. Deutsche Bank AG grew its holdings in Thermo Fisher Scientific by 9.5% in the fourth quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after purchasing an additional 114,277 shares during the period. Finally, Hancock Whitney Corp grew its holdings in shares of Thermo Fisher Scientific by 0.6% during the fourth quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock valued at $2,802,000 after buying an additional 30 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.