Morgan Stanley Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $680.00

Thermo Fisher Scientific (NYSE:TMO) had its target price lifted by investment analysts at Morgan Stanley from $655.00 to $680.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price objective indicates a potential upside of 10.95% from the company’s current price.

TMO has been the topic of several other reports. Raymond James boosted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. TD Cowen upped their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI lowered their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $643.06.

Thermo Fisher Scientific Trading Down 1.2 %

Shares of NYSE:TMO traded down $7.34 during mid-day trading on Friday, hitting $612.91. The stock had a trading volume of 296,554 shares, compared to its average volume of 1,488,564. The company’s 50 day moving average is $598.25 and its 200-day moving average is $581.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a market cap of $234.13 billion, a PE ratio of 39.31, a P/E/G ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. The firm 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% on a year-over-year basis. During the same period in the prior year, the business earned $5.15 EPS. On average, sell-side analysts predict that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

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

Institutional Trading of Thermo Fisher Scientific

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Thermo Fisher Scientific by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock worth $19,235,605,000 after purchasing an additional 117,353 shares in the last quarter. Capital World Investors increased its holdings in shares of Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after buying an additional 1,231,059 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Thermo Fisher Scientific by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after acquiring an additional 156,675 shares in the last quarter. Capital Research Global Investors grew its position in Thermo Fisher Scientific by 1.5% during the 1st quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after acquiring an additional 123,523 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the last quarter. 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.