Thermo Fisher Scientific (NYSE:TMO) Given “Outperform” Rating at Raymond James

Raymond James reiterated their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a research note issued to investors on Monday,Benzinga reports. Raymond James currently has a $667.00 target price on the medical research company’s stock, up from their prior target price of $650.00.

A number of other equities analysts also recently weighed in on TMO. Bernstein Bank increased their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Price Performance

TMO stock opened at $593.38 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock’s 50 day moving average price is $541.37 and its 200 day moving average price is $571.18. The firm has a market cap of $226.97 billion, a P/E ratio of 35.90, a PEG ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, sell-side analysts expect that Thermo Fisher Scientific will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.44%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total value of $5,581,200.00. Following the completion of the transaction, the chief executive officer now directly owns 33,608 shares of the company’s stock, valued at $18,757,296.96. This represents a 22.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 29,000 shares of company stock valued at $15,859,540. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $28,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $30,000. Institutional investors 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.