Evercore ISI Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $630.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective hoisted by research analysts at Evercore ISI from $605.00 to $630.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s target price suggests a potential upside of 2.50% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Raymond James increased their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target for the company. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America increased their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus raised their target price on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $653.72.

Thermo Fisher Scientific Trading Down 0.6 %

NYSE TMO traded down $3.91 during trading on Tuesday, hitting $614.66. 373,246 shares of the company’s stock traded hands, compared to its average volume of 1,480,054. The stock has a fifty day moving average of $607.53 and a two-hundred day moving average of $582.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $627.88. The firm has a market cap of $234.80 billion, a P/E ratio of 39.41, a PEG ratio of 3.90 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’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 posted $5.15 earnings per share. As a group, sell-side analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s 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 owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction on 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 transaction, the vice president now owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Signature Resources Capital Management LLC increased its holdings in Thermo Fisher Scientific by 318.2% in the 2nd 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. LifeSteps Financial Inc. bought a new stake in Thermo Fisher Scientific in the 1st quarter valued at $31,000. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $29,000. Stephens Consulting LLC increased its holdings in Thermo Fisher Scientific by 116.0% in the 2nd 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 last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Thermo Fisher Scientific by 1,275.0% in 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. Hedge funds and other 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.