Thermo Fisher Scientific (NYSE:TMO) Given New $625.00 Price Target at Barclays

Key Points

• Barclays cut its price target on Thermo Fisher to $625 from $650 but maintained an "overweight" rating, implying about an 18.54% upside from the prior close.
• The consensus among analysts is a "Moderate Buy" with an average price target of $631.25, while firms like Citigroup and Wells Fargo have higher targets ($685 and $683 respectively).
• Thermo Fisher recently beat quarterly estimates with $6.57 EPS vs. $6.45 expected and $12.22B revenue vs. $11.95B expected, and the stock trades at a P/E of about 29.72 with a market cap near $196B.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price target lowered by Barclays from $650.00 to $625.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical research company's stock. Barclays's price objective would indicate a potential upside of 18.54% from the company's previous close.

Several other research firms have also recently issued reports on TMO. DZ Bank started coverage on Thermo Fisher Scientific in a research note on Friday, March 27th. They set a "buy" rating and a $610.00 target price for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Wednesday, April 8th. Citigroup raised their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, UBS Group reissued a "neutral" rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $631.25.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded up $13.03 during midday trading on Tuesday, hitting $527.26. The company had a trading volume of 2,571,868 shares, compared to its average volume of 2,315,388. Thermo Fisher Scientific has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock has a market cap of $195.94 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97. The business's 50-day simple moving average is $503.98 and its 200-day simple moving average is $549.81.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.95 billion. During the same quarter last year, the firm earned $6.10 earnings per share. The business's revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts predict that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the sale, the executive vice president directly owned 20,752 shares of the company's stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the completion of the sale, the chief executive officer directly owned 123,925 shares of the company's stock, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors have recently modified their holdings of the company. Howard Capital Management Inc. raised its position in shares of Thermo Fisher Scientific by 0.5% during the 4th quarter. Howard Capital Management Inc. now owns 3,091 shares of the medical research company's stock worth $1,791,000 after acquiring an additional 16 shares in the last quarter. Petros Family Wealth LLC raised its position in shares of Thermo Fisher Scientific by 3.9% during the 4th quarter. Petros Family Wealth LLC now owns 456 shares of the medical research company's stock worth $264,000 after acquiring an additional 17 shares in the last quarter. Salomon & Ludwin LLC raised its position in shares of Thermo Fisher Scientific by 1.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,095 shares of the medical research company's stock worth $669,000 after acquiring an additional 17 shares in the last quarter. Financial Management Network Inc. raised its position in shares of Thermo Fisher Scientific by 3.7% during the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company's stock worth $248,000 after acquiring an additional 18 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its position in shares of Thermo Fisher Scientific by 1.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 1,256 shares of the medical research company's stock worth $728,000 after acquiring an additional 18 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific NYSE: TMO is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.

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