Thermo Fisher Scientific (NYSE:TMO) Earns “Outperform” Rating from Royal Bank of Canada

Thermo Fisher Scientific (NYSE:TMO)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $767.00 price target on the medical research company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 25.14% from the company’s previous close.

TMO has been the subject of several other research reports. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Raymond James raised their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday. Finally, Barclays lowered their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $643.06.

Thermo Fisher Scientific Trading Down 1.2 %

Shares of TMO traded down $7.34 during mid-day trading on Friday, reaching $612.91. 296,554 shares of the company’s stock traded hands, compared to its average volume of 1,488,564. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month 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. The stock has a market cap of $234.13 billion, a P/E ratio of 39.31, a P/E/G ratio of 2.86 and a beta of 0.78. The stock’s 50-day moving average is $598.25 and its two-hundred day moving average is $581.25.

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

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the 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 sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC lifted its position in 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 acquiring an additional 35 shares during the last quarter. True Wealth Design LLC grew its stake in Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific during the second quarter worth approximately $29,000. Stephens Consulting LLC boosted its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the period. Finally, LifeSteps Financial Inc. acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.