Thermo Fisher Scientific (NYSE:TMO) Given New $670.00 Price Target at JPMorgan Chase & Co.

Thermo Fisher Scientific (NYSE:TMO) had its target price upped by JPMorgan Chase & Co. from $650.00 to $670.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other analysts also recently commented on TMO. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an overweight rating in a report on Friday. Jefferies Financial Group restated a buy rating and issued a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a buy rating in a report on Thursday, July 25th. Raymond James increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Finally, Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of Thermo Fisher Scientific stock opened at $613.69 on Friday. The firm has a market cap of $234.26 billion, a PE ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The business’s fifty day moving average is $599.56 and its two-hundred day moving average is $581.47.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the previous year, the business earned $5.15 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 3,624 shares of the company’s 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 sale, the vice president now owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the business’s 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 sale, the vice president now owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last ninety days. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TMO. Signature Resources Capital Management LLC boosted its stake 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 period. True Wealth Design LLC boosted its position 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 valued at $29,000 after purchasing an additional 51 shares during the period. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific in the second quarter worth $29,000. Stephens Consulting LLC lifted its stake in 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 buying an additional 29 shares during the last quarter. Finally, LifeSteps Financial Inc. bought a new position in shares of Thermo Fisher Scientific during the first quarter worth about $31,000. 89.23% of the stock is owned by institutional investors and hedge funds.

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.