Royal Bank of Canada Reaffirms “Outperform” Rating for Thermo Fisher Scientific (NYSE:TMO)

Royal Bank of Canada reaffirmed their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $767.00 price objective on the medical research company’s stock.

Several other analysts have also recently commented on TMO. Bank of America raised their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a buy rating in a report on Monday, September 16th. Robert W. Baird boosted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an outperform rating in a report on Thursday, July 25th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an overweight rating and a $670.00 price objective for the company. Raymond James upped their target price 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. Finally, Jefferies Financial Group reiterated a buy rating and set a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Thermo Fisher Scientific stock opened at $613.69 on Friday. The company has a 50 day moving average price of $599.56 and a 200 day moving average price of $581.47. 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 52 week low of $415.60 and a 52 week high of $627.88. The firm has a market capitalization of $234.26 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the company posted $5.15 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend 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 currently 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific 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 transaction, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 3,624 shares of the firm’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 completion of 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. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock worth $19,235,605,000 after acquiring an additional 117,353 shares during the period. Capital World Investors lifted its stake in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Thermo Fisher Scientific by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after purchasing an additional 156,675 shares during the period. Capital Research Global Investors raised its holdings in shares of Thermo Fisher Scientific by 1.5% in the 1st quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after buying an additional 123,523 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after buying an additional 604,895 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

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.