Thermo Fisher Scientific (NYSE:TMO) Earns Outperform Rating from Raymond James

Thermo Fisher Scientific (NYSE:TMO)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Raymond James in a research note issued to investors on Monday,Benzinga reports. They currently have a $667.00 price objective on the medical research company’s stock, up from their prior price objective of $650.00. Raymond James’ price objective indicates a potential upside of 14.88% from the stock’s previous close.

Several other equities research analysts have also issued reports on TMO. Stifel Nicolaus dropped their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Finally, Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Stock Down 2.2 %

Shares of NYSE TMO opened at $580.63 on Monday. The business has a 50-day simple moving average of $542.95 and a two-hundred day simple moving average of $571.55. Thermo Fisher Scientific has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market cap of $222.09 billion, a P/E ratio of 35.13, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Research analysts anticipate that Thermo Fisher Scientific will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has initiated a share repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. Barrett & Company Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. FPC Investment Advisory Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $28,000. Finally, Missouri Trust & Investment Co bought a new position in Thermo Fisher Scientific in the fourth quarter worth $29,000. 89.23% of the stock is owned by hedge funds and other 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.