Wells Fargo & Company Has Lowered Expectations for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO) had its price objective reduced by equities research analysts at Wells Fargo & Company from $680.00 to $580.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 36.12% from the company’s previous close.

Other equities research analysts have also issued reports about the company. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Citigroup lowered their price target on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. UBS Group lifted their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Scotiabank boosted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $642.67.

Thermo Fisher Scientific Trading Down 2.4 %

Shares of TMO opened at $426.11 on Thursday. Thermo Fisher Scientific has a twelve month low of $409.85 and a twelve month high of $627.88. The company’s fifty day simple moving average is $497.67 and its 200-day simple moving average is $533.64. The company has a market cap of $160.85 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.99 and a beta of 0.86. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Insider Activity at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several institutional investors have recently bought and sold shares of the company. Stonegate Investment Group LLC boosted its stake in Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after purchasing an additional 18 shares during the last quarter. Semus Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 18 shares in the last quarter. Bangor Savings Bank increased its holdings in shares of Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC boosted its stake in Thermo Fisher Scientific by 0.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after buying an additional 19 shares during the last quarter. Finally, KRS Capital Management LLC grew its holdings in Thermo Fisher Scientific by 1.5% in the 4th quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock valued at $685,000 after buying an additional 20 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.