Thermo Fisher Scientific Inc. (NYSE:TMO) Receives $649.33 Average PT from Brokerages

Thermo Fisher Scientific Inc. (NYSE:TMO) has been assigned an average recommendation of “Moderate Buy” from the twenty-two research firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $649.33.

Several equities analysts recently issued reports on the company. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Bernstein Bank lifted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Barclays dropped their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock valued at $20,651,865. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signature Resources Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth about $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth about $27,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth about $29,000. Finally, Stephens Consulting LLC lifted its stake in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 3.7 %

TMO opened at $513.08 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The business has a 50 day simple moving average of $588.39 and a 200-day simple moving average of $582.69. The stock has a market capitalization of $196.25 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.58 and a beta of 0.79. Thermo Fisher Scientific has a 12 month low of $464.17 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $5.69 EPS. On average, equities analysts anticipate that Thermo Fisher Scientific will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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.