Thermo Fisher Scientific (NYSE:TMO) Raised to Buy at StockNews.com

Thermo Fisher Scientific (NYSE:TMO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also recently issued reports on TMO. Stephens began 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. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. 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 research report on Friday, January 10th. TD Cowen increased their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Barclays reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $648.95.

Thermo Fisher Scientific Stock Down 1.0 %

Shares of NYSE TMO opened at $551.64 on Tuesday. The stock has a market cap of $211.00 billion, a P/E ratio of 34.59, a PEG ratio of 3.54 and a beta of 0.76. The business’s fifty day simple moving average is $529.85 and its 200-day simple moving average is $568.13. Thermo Fisher Scientific has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $5.69 EPS. As a group, equities analysts predict that Thermo Fisher Scientific will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a stock buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock valued at $25,954,465 over the last three months. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $332,000. One Capital Management LLC raised its holdings in Thermo Fisher Scientific by 154.1% during the second quarter. One Capital Management LLC now owns 2,343 shares of the medical research company’s stock worth $1,296,000 after purchasing an additional 1,421 shares during the last quarter. WealthPLAN Partners LLC boosted its position in Thermo Fisher Scientific by 6.5% during the second quarter. WealthPLAN Partners LLC now owns 4,120 shares of the medical research company’s stock worth $2,279,000 after purchasing an additional 253 shares in the last quarter. Lmcg Investments LLC boosted its position in shares of Thermo Fisher Scientific by 2.9% in the 2nd quarter. Lmcg Investments LLC now owns 14,382 shares of the medical research company’s stock worth $7,953,000 after buying an additional 400 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in Thermo Fisher Scientific by 1.7% in the 2nd quarter. Moors & Cabot Inc. now owns 3,927 shares of the medical research company’s stock valued at $2,172,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.