Morgan Stanley Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $680.00

Thermo Fisher Scientific (NYSE:TMO) had its target price boosted by Morgan Stanley from $655.00 to $680.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

TMO has been the topic of several other reports. UBS Group raised Thermo Fisher Scientific to a strong-buy rating in a research report on Monday, September 16th. Bank of America lifted their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a buy rating in a research report on Monday, September 16th. Barclays lowered their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, Robert W. Baird raised 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. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $647.78.

Thermo Fisher Scientific Stock Down 1.1 %

Shares of TMO stock opened at $613.69 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The firm has a market capitalization 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 stock’s 50-day simple moving average is $599.56 and its 200-day simple 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $5.15 EPS. Equities analysts expect 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. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 of the company’s stock, valued at $8,397,760.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several hedge funds have recently modified their holdings of the stock. Signature Resources Capital Management LLC raised its position in Thermo Fisher Scientific by 318.2% in the 2nd 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 lifted its stake in Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC lifted its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, LifeSteps Financial Inc. acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth $31,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Company Profile

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.