Thermo Fisher Scientific (NYSE:TMO) Downgraded to Hold Rating by Hsbc Global Res

Key Points

• Hsbc Global Res downgraded Thermo Fisher Scientific from a "strong-buy" to a "hold" rating, reflecting a shift in analyst sentiment regarding the stock.
• Thermo Fisher's recent earnings report showed earnings per share of $5.36, which exceeded analyst expectations, and a quarterly revenue increase of 2.9% year-over-year.
• The company's stock has a consensus rating of "Moderate Buy" with a target price of $593.00, as assessed by multiple investment analysts.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) was downgraded by equities researchers at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective for the company in a research note on Friday, July 11th. UBS Group lifted their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research note on Thursday. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, HSBC reaffirmed a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded up $6.58 during trading on Thursday, hitting $484.90. 3,412,177 shares of the stock were exchanged, compared to its average volume of 3,122,244. Thermo Fisher Scientific has a 1-year low of $385.46 and a 1-year high of $627.88. The company has a market capitalization of $183.04 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.77. The company's fifty day simple moving average is $413.76 and its 200-day simple moving average is $469.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the firm earned $5.37 EPS. Thermo Fisher Scientific's revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president owned 22,367 shares of the company's stock, valued at $10,735,712.66. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Thermo Fisher Scientific by 137.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company's stock worth $28,000 after purchasing an additional 33 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth about $30,000. Anderson Financial Strategies LLC bought a new stake in shares of Thermo Fisher Scientific in the first quarter worth about $30,000. Finally, Keystone Global Partners LLC bought a new stake in shares of Thermo Fisher Scientific in the first quarter worth about $31,000. Institutional investors 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.