Robert W. Baird Trims Thermo Fisher Scientific (NYSE:TMO) Target Price to $620.00

Thermo Fisher Scientific (NYSE:TMO - Free Report) had its target price lowered by Robert W. Baird from $621.00 to $620.00 in a report published on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical research company's stock.

A number of other research firms also recently issued reports on TMO. Royal Bank of Canada increased their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Raymond James raised their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They issued a neutral rating and a $620.00 price objective for the company. Barclays cut shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and boosted their target price for the stock from $475.00 to $555.00 in a research note on Wednesday, January 24th. Finally, Evercore ISI boosted their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $606.76.

Thermo Fisher Scientific Trading Down 0.9 %

Thermo Fisher Scientific stock traded down $5.29 during midday trading on Thursday, reaching $572.10. The stock had a trading volume of 1,183,964 shares, compared to its average volume of 1,563,443. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $603.82. The firm has a market cap of $218.38 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 2.42 and a beta of 0.80. The company has a fifty day moving average of $572.61 and a 200 day moving average of $529.06.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. On average, analysts anticipate that Thermo Fisher Scientific will post 21.51 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.35. Thermo Fisher Scientific's payout ratio is 10.10%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company's stock, valued at $74,039,491.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,039,491.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 5,547 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $550.62, for a total value of $3,054,289.14. Following the completion of the transaction, the chief executive officer now owns 43,608 shares in the company, valued at approximately $24,011,436.96. The disclosure for this sale can be found here. Insiders sold a total of 50,277 shares of company stock worth $28,513,384 over the last 90 days. Insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Thermo Fisher Scientific by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company's stock worth $16,582,503,000 after buying an additional 180,618 shares during the period. Morgan Stanley lifted its position in Thermo Fisher Scientific by 0.4% during the 3rd quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company's stock worth $6,285,838,000 after buying an additional 50,736 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Thermo Fisher Scientific by 6.9% during the 4th quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company's stock worth $4,240,824,000 after purchasing an additional 517,137 shares during the last quarter. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $2,909,524,000. Finally, Northern Trust Corp increased its stake in shares of Thermo Fisher Scientific by 2.6% during the 3rd quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company's stock worth $1,988,856,000 after purchasing an additional 99,377 shares during the last quarter. 89.23% of the stock is owned by 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.