Thermo Fisher Scientific (NYSE:TMO) Raised to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Thermo Fisher Scientific (NYSE:TMO) to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports.

Several other brokerages have also issued reports on TMO. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a buy rating in a report on Thursday, July 25th. Raymond James boosted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an overweight rating and a $670.00 target price on the stock. Robert W. Baird increased their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Finally, Evercore ISI cut their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating on the stock in a research 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. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $632.89.

Thermo Fisher Scientific Stock Up 1.7 %

Shares of NYSE:TMO opened at $620.26 on Monday. 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 business’s 50 day moving average is $598.25 and its 200 day moving average is $581.25. The stock has a market cap of $236.94 billion, a P/E ratio of 39.79, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter last year, the firm posted $5.15 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts predict that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were 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 $76,420,473.36. The disclosure for this sale can be found here. Insiders have 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.

Hedge Funds Weigh In On Thermo Fisher Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. Signature Resources Capital Management LLC lifted its holdings in 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 valued at $25,000 after purchasing an additional 35 shares in the last quarter. True Wealth Design LLC boosted its holdings in 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. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC lifted its position 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 valued at $30,000 after acquiring an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.