Wells Fargo & Company Lowers Thermo Fisher Scientific (NYSE:TMO) Price Target to $565.00

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $570.00 to $565.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical research company's stock. Wells Fargo & Company's price objective points to a potential upside of 17.81% from the stock's previous close.

TMO has been the subject of several other reports. Stifel Nicolaus lowered their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada cut their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. HSBC reiterated a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday. Argus lowered their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price for the company in a research report on Friday, July 11th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $597.38.

Thermo Fisher Scientific Stock Up 2.8%

Shares of NYSE TMO traded up $12.86 during mid-day trading on Thursday, hitting $479.57. 2,749,618 shares of the stock traded hands, compared to its average volume of 2,473,462. Thermo Fisher Scientific has a 52 week low of $385.46 and a 52 week high of $627.88. The stock has a fifty day moving average price of $411.01 and a 200-day moving average price of $471.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The company has a market cap of $181.04 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.06 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. The firm had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. Thermo Fisher Scientific's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $5.37 EPS. Research analysts anticipate that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president owned 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Hedge funds have recently modified their holdings of the stock. Revolve Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after acquiring an additional 20 shares during the period. Port Capital LLC grew its holdings in Thermo Fisher Scientific by 1.6% in the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock valued at $721,000 after purchasing an additional 22 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in shares of Thermo Fisher Scientific by 0.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock valued at $2,312,000 after acquiring an additional 23 shares in the last quarter. Monograph Wealth Advisors LLC lifted its position in Thermo Fisher Scientific by 0.3% during the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock worth $4,507,000 after buying an additional 23 shares during the period. Finally, Intergy Private Wealth LLC grew its stake in shares of Thermo Fisher Scientific by 5.8% in the first quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock valued at $208,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Company Profile

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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