Thermo Fisher Scientific (NYSE:TMO) PT Raised to $686.00

Thermo Fisher Scientific (NYSE:TMO) had its price target lifted by stock analysts at TD Cowen from $656.00 to $686.00 in a note issued to investors on Tuesday. TD Cowen’s price target would suggest a potential upside of 19.00% from the stock’s current price.

TMO has been the subject of a number of other research reports. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Stifel Nicolaus upped their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Bernstein Bank raised their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $655.50.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $576.49 on Tuesday. The firm has a market cap of $220.06 billion, a P/E ratio of 36.98, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. The stock’s 50-day moving average is $607.04 and its two-hundred day moving average is $584.39. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. 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 (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the prior year, the business earned $5.15 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly 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. Over the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Signature Resources Capital Management LLC increased its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Stephens Consulting LLC lifted its position in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Thermo Fisher Scientific during the first quarter worth approximately $32,000. Finally, Bank & Trust Co bought a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $33,000. 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.