Citigroup Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $650.00

Thermo Fisher Scientific (NYSE:TMO) had its target price boosted by equities research analysts at Citigroup from $600.00 to $650.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Citigroup’s price target points to a potential upside of 8.62% from the company’s current price.

Other research analysts have also issued research reports about the company. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group increased their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada cut their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $655.64.

Thermo Fisher Scientific Trading Down 1.4 %

Shares of TMO opened at $598.40 on Friday. The business’s 50-day moving average price is $541.37 and its 200-day moving average price is $570.96. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a twelve month low of $493.30 and a twelve month high of $627.88. The stock has a market cap of $228.89 billion, a PE ratio of 37.52, a P/E/G ratio of 3.89 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. On average, equities analysts forecast that Thermo Fisher Scientific will post 21.69 EPS for the current fiscal year.

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

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 29,000 shares of company stock valued at $15,859,540 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors have recently bought and sold shares of TMO. Geode Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after purchasing an additional 995 shares during the last quarter. Greenwood Gearhart Inc. increased its holdings in shares of Thermo Fisher Scientific by 9.8% in the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after purchasing an additional 1,837 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Thermo Fisher Scientific by 23.6% during the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after purchasing an additional 10,606 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its position in shares of Thermo Fisher Scientific by 6.2% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after buying an additional 618 shares during the last quarter. 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.