Thermo Fisher Scientific (NYSE:TMO) Sets New 1-Year Low - Here's Why

Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $409.85 and last traded at $419.64, with a volume of 114711 shares. The stock had previously closed at $419.31.

Analyst Ratings Changes

A number of research firms have issued reports on TMO. Citigroup reduced their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Scotiabank raised their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a report on Monday, February 3rd. Sanford C. Bernstein raised Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 target price on the stock in a report on Friday, January 10th. Finally, StockNews.com raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and a consensus price target of $647.43.

Remove Ads

Thermo Fisher Scientific Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock's 50-day simple moving average is $510.56 and its 200 day simple moving average is $538.78. The company has a market cap of $167.61 billion, a PE ratio of 26.88, a P/E/G ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts' consensus estimates 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, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.39%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's payout ratio is currently 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the sale, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,900 shares of company stock valued at $13,106,062. Corporate insiders own 0.34% of the company's stock.

Institutional Trading of Thermo Fisher Scientific

Large investors have recently modified their holdings of the business. Abacus Planning Group Inc. acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at about $202,000. Capital Investment Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 2.4% during the 1st quarter. Capital Investment Advisors LLC now owns 1,367 shares of the medical research company's stock valued at $680,000 after buying an additional 32 shares during the period. Hickory Point Bank & Trust raised its holdings in shares of Thermo Fisher Scientific by 3.5% in the 1st quarter. Hickory Point Bank & Trust now owns 747 shares of the medical research company's stock worth $372,000 after purchasing an additional 25 shares during the period. Tilia Fiduciary Partners Inc. purchased a new stake in Thermo Fisher Scientific during the first quarter worth approximately $2,050,000. Finally, Central Bank & Trust Co. raised its stake in shares of Thermo Fisher Scientific by 3.2% in the 1st quarter. Central Bank & Trust Co. now owns 1,994 shares of the medical research company's stock valued at $992,000 after acquiring an additional 61 shares during the period. 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.