Thermo Fisher Scientific (NYSE:TMO) PT Raised to $625.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective upped by equities researchers at Bernstein Bank from $565.00 to $625.00 in a research note issued on Tuesday. The brokerage presently has a “market perform” rating on the medical research company’s stock. Bernstein Bank’s price target would indicate a potential upside of 8.41% from the stock’s current price.

A number of other research firms have also recently issued reports on TMO. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Barclays upped their price target on Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America lifted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $655.50.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $576.49 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. The business has a 50 day moving average of $607.04 and a 200 day moving average of $584.39. The company has a market capitalization of $220.06 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 3.85 and a beta of 0.77.

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TMO. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after acquiring an additional 117,353 shares during the last quarter. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Thermo Fisher Scientific by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after purchasing an additional 156,675 shares in the last quarter. Capital Research Global Investors increased its position in Thermo Fisher Scientific by 1.5% in the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after purchasing an additional 123,523 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.