Thermo Fisher Scientific (NYSE:TMO) Price Target Cut to $553.00 by Analysts at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price objective decreased by analysts at Robert W. Baird from $573.00 to $553.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical research company's stock. Robert W. Baird's target price indicates a potential upside of 29.51% from the company's previous close.

A number of other research firms also recently issued reports on TMO. Argus reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. UBS Group cut shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $500.00 to $460.00 in a research note on Tuesday, July 8th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, 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 on the stock in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $599.30.

Thermo Fisher Scientific Stock Up 2.6%

Shares of NYSE TMO opened at $427.01 on Friday. The company has a 50 day simple moving average of $410.13 and a 200-day simple moving average of $473.73. The company has a market capitalization of $161.19 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.21 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. Thermo Fisher Scientific has a 1 year low of $385.46 and a 1 year high of $627.88.

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

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Large investors have recently bought and sold shares of the business. Cypress Advisory Group LLC acquired a new stake in Thermo Fisher Scientific in the 4th quarter worth about $253,000. GAMMA Investing LLC raised its position in shares of Thermo Fisher Scientific by 22.0% in the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after buying an additional 877 shares in the last quarter. Deutsche Bank AG raised its position in shares of Thermo Fisher Scientific by 9.5% in the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock valued at $687,553,000 after buying an additional 114,277 shares in the last quarter. Hancock Whitney Corp raised its position in shares of Thermo Fisher Scientific by 0.6% in the 4th 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 in the last quarter. Finally, Cetera Trust Company N.A raised its position in shares of Thermo Fisher Scientific by 3.3% in the 1st quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock valued at $2,312,000 after buying an additional 150 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.

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