On September 30, 2023, investment analysts at Barclays lowered their target price for Thermo Fisher Scientific (NYSE:TMO) from $625.00 to $585.00, as reported by FlyOnTheWall. Despite the downward revision, Barclays’ price target still indicates a potential upside of 16.22% from the current price of the company.
Thermo Fisher Scientific stock opened at $503.37 on Friday, exhibiting a 50-day simple moving average of $536.25 and a 200-day simple moving average of $538.64. The company commands a market cap of $194.28 billion and possesses a PE ratio of 34.41, with a P/E/G ratio standing at 2.35 and a beta value of 0.77. Over the past year, Thermo Fisher Scientific’s stock has traded between a low of $475.77 and a high of $609.85. Its debt-to-equity ratio is 0.67, indicating a relatively stable financial position, while boasting quick and current ratios of 1.02 and 1.42 respectively.
Institutional investors and hedge funds have recently made adjustments to their positions in Thermo Fisher Scientific’s business operations. Notable among these changes is Silicon Valley Capital Partners’ acquisition of shares during the first quarter at an estimated value of around $29,000 in current pricing terms; additionally, OLD Mission Capital LLC obtained shares valued approximately at $31,000 during Q4 last year; Coppell Advisory Solutions LLC purchased shares in the second quarter worth approximately $33,000; Live Oak Investment Partners acquired shares worth about $36,000 in Q4 last year; finally, Tyler Stone Wealth Management bought shares during Q2 this year representing an estimated value of approximately $37,000. As it stands now, hedge funds and institutional investors own about 87.06% of Thermo Fisher Scientific’s stock.
In terms of quarterly earnings, Thermo Fisher Scientific last reported its results on July 26th. For the quarter, the medical research company presented earnings per share (EPS) of $5.15, falling short of analysts’ consensus estimates by ($0.28). Revenues for the quarter stood at $10.69 billion, slightly lower than analyst estimates of $10.99 billion. Thermo Fisher Scientific recorded a net margin of 13.14% and a return on equity of 18.59% during this period. In comparison to the same quarter in the previous year, revenue declined by 2.6%. The corresponding earnings per share figure for that same quarter in the prior year was $5.51.
Looking ahead, equities research analysts currently forecast that Thermo Fisher Scientific will achieve an EPS of 22.37 for the current fiscal year.
Overall, while Barclays lowered its target price for Thermo Fisher Scientific, indicating some downside potential from current levels, there remains room for optimism given the potential upside suggested by their revised target price. Market observers will closely monitor further developments in this industry-leading company to assess its performance and trajectory moving forward.
Note: The information presented in this article is based on publicly available sources and financial reports as of September 30, 2023.
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Thermo Fisher Scientific Receives Analyst Ratings and Executive Sell-Offs Amidst Positive Consensus
In recent news, Thermo Fisher Scientific has received various ratings and price target changes from analysts. Wells Fargo & Company raised their price objective on the company’s shares from $505.00 to $520.00 and gave it an “underweight” rating. Meanwhile, Citigroup initiated coverage on Thermo Fisher Scientific with a “buy” rating and set a price target of $625.00. StockNews.com also upgraded the stock from a “hold” rating to a “buy” rating, while Royal Bank of Canada increased their target price from $662.00 to $698.00. Raymond James raised their target price as well, going up to $630.00 and labeling the stock as “outperform.” However, one analyst did rate the stock as a sell while another maintained a hold position.
According to Bloomberg data, there is currently a consensus among analysts that Thermo Fisher Scientific is rated as a “Moderate Buy,” with a consensus price target of $627.13.
Moving on to executive activities within the company, EVP Gianluca Pettiti recently sold 3,000 shares of Thermo Fisher Scientific stock in a transaction that took place on August 30th for an average price of $557.77 per share. The total value of this sale amounted to $1,673,310. Following this transaction, Mr. Pettiti now holds 17,556 shares of the company’s stock valued at $9,792,210.12.
The aforementioned sale was publicly disclosed in accordance with Securities & Exchange Commission regulations and can be accessed through the provided hyperlink for further information.
Additionally, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on August 3rd at an average price of $549.00 per share, totaling $5,490,000 in value. As a result of this transaction, Mr.Casper now possesses 141,330 shares of the company’s stock valued at $77,590,170.
It is important to note that over the past quarter, insiders within Thermo Fisher Scientific have sold a total of 28,700 shares of company stock with a combined worth of $15,799,270. Insiders currently hold 0.32% of the company’s stock.
These recent developments provide insight into the opinions and activities surrounding Thermo Fisher Scientific’s stock. Investors and analysts alike will continue to monitor these factors as they contribute to the overall perception and valuation of the company.
