Thermo Fisher Scientific (NYSE:TMO) Shares Gap Down to $510.99

Thermo Fisher Scientific Inc. (NYSE:TMO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $510.99, but opened at $499.19. Thermo Fisher Scientific shares last traded at $511.61, with a volume of 375,326 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Thermo Fisher Scientific from $662.00 to $698.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $660.00 to $670.00 in a report on Thursday, July 27th. Credit Suisse Group raised Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 target price for the company in a report on Thursday, July 13th. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $664.00 to $625.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Finally, Raymond James raised their price target on Thermo Fisher Scientific from $595.00 to $630.00 and gave the company an “outperform” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.71.

Thermo Fisher Scientific Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 1.42 and a quick ratio of 1.02. The business has a 50 day moving average of $540.56 and a 200 day moving average of $542.09. The firm has a market capitalization of $201.45 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.51 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 26th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same period in the previous year, the firm posted $5.51 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 22.37 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.57%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total value of $1,673,310.00. Following the sale, the executive vice president now directly owns 17,556 shares in the company, valued at $9,792,210.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the sale, the executive vice president now owns 17,556 shares in the company, valued at $9,792,210.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 1,600 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $550.60, for a total value of $880,960.00. Following the sale, the chief executive officer now owns 135,330 shares in the company, valued at approximately $74,512,698. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,700 shares of company stock valued at $15,799,270. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors and hedge funds have recently bought and sold shares of TMO. Silicon Valley Capital Partners bought a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $29,000. OLD Mission Capital LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $31,000. Coppell Advisory Solutions LLC bought a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Live Oak Investment Partners bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $36,000. Finally, Tyler Stone Wealth Management acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $37,000. Institutional investors own 87.06% 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 United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.