Thermo Fisher Scientific (NYSE:TMO) PT Raised to $670.00 at JPMorgan Chase & Co.

Thermo Fisher Scientific (NYSE:TMO) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $650.00 to $670.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.13% from the stock’s current price.

A number of other equities research analysts also recently issued reports on TMO. Jefferies Financial Group reissued a “buy” rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. TD Cowen lifted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday. Finally, Stifel Nicolaus boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $647.78.

Thermo Fisher Scientific Stock Down 1.0 %

Shares of Thermo Fisher Scientific stock traded down $6.29 during trading hours on Friday, reaching $613.96. 462,697 shares of the company’s stock were exchanged, compared to its average volume of 1,489,477. The stock has a market cap of $234.53 billion, a P/E ratio of 39.38, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $598.25 and a two-hundred day moving average of $581.25. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.15 earnings per share. On average, sell-side analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Accretive Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 8.1% in the fourth quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock worth $340,000 after acquiring an additional 48 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 9.7% during the 4th quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock worth $433,000 after acquiring an additional 72 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 8.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock worth $794,000 after buying an additional 116 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in Thermo Fisher Scientific by 4.2% in the 4th quarter. TrinityPoint Wealth LLC now owns 4,080 shares of the medical research company’s stock worth $2,166,000 after purchasing an additional 164 shares in the last quarter. Finally, SageView Advisory Group LLC grew its position in shares of Thermo Fisher Scientific by 11.3% in the fourth quarter. SageView Advisory Group LLC now owns 3,532 shares of the medical research company’s stock valued at $2,003,000 after purchasing an additional 359 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

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.