Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $686.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective raised by TD Cowen from $656.00 to $686.00 in a research report sent to investors on Tuesday morning.

Several other analysts also recently issued reports on TMO. Stifel Nicolaus boosted 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. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Finally, Evercore ISI upped their price objective on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $656.00.

Thermo Fisher Scientific Trading Down 1.5 %

NYSE:TMO opened at $586.25 on Tuesday. The stock has a fifty day simple moving average of $607.55 and a 200 day simple moving average of $584.45. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $223.95 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88.

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. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same period last year, the firm posted $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Activity

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the company’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 transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMO. Vanguard Group Inc. raised its stake in shares of Thermo Fisher Scientific by 0.4% in the first quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after purchasing an additional 117,353 shares in the last quarter. Capital World Investors raised its stake 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 valued at $7,842,762,000 after buying an additional 1,231,059 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Thermo Fisher Scientific by 1.6% during 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 during the period. Capital Research Global Investors increased its stake in Thermo Fisher Scientific by 1.5% in the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock valued at $4,715,436,000 after acquiring an additional 123,523 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in 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 worth $1,372,157,000 after purchasing an additional 604,895 shares during the period. 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.