Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $670.00

by · The Cerbat Gem

Thermo Fisher Scientific (NYSE:TMO – Free Report) had its target price increased by JPMorgan Chase & Co. from $650.00 to $670.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

A number of other equities research analysts have also commented on TMO. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a report on Friday, June 28th. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an overweight rating in a research report on Friday. Bank of America lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a buy rating in a report on Monday, September 16th. Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a buy rating in a report on Thursday, July 25th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $647.78.

View Our Latest Stock Report on Thermo Fisher Scientific

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $613.69 on Friday. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $599.56 and its two-hundred day moving average price is $581.38. The stock has a market capitalization of $234.26 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period last year, the firm earned $5.15 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.25%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Activity

In other 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 completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $180,255.00. Following the transaction, 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. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last quarter. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TMO. Capital World Investors grew its position in shares of Thermo Fisher Scientific by 10.0% in the 1st 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 during the last quarter. Swedbank AB bought a new stake in Thermo Fisher Scientific in the first quarter valued at $705,636,000. Veritas Asset Management LLP increased its position in Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $333,786,000. Finally, Ameriprise Financial Inc. increased its position in shares of Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after buying an additional 604,895 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About Thermo Fisher Scientific

(Get Free Report)

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.

Recommended Stories