Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $620.00

Thermo Fisher Scientific (NYSE:TMO) had its target price upped by Barclays from $600.00 to $620.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the medical research company’s stock.

A number of other equities analysts have also commented on the company. UBS Group upgraded Thermo Fisher Scientific to a strong-buy rating in a research note on Monday, September 16th. Bank of America raised their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a buy rating in a research note on Monday, September 16th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday. They set a buy rating and a $680.00 price objective on the stock. Royal Bank of Canada restated an outperform rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Finally, Stephens began coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an overweight rating and a $680.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $656.16.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $600.52 on Tuesday. The firm has a market cap of $229.23 billion, a P/E ratio of 38.52, a price-to-earnings-growth ratio of 3.80 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. The business’s 50 day moving average is $607.81 and its 200-day moving average is $583.76.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.15 earnings per share. Equities research analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Activity

In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CFM Wealth Partners LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $216,000. Magnus Financial Group LLC raised its holdings in shares of Thermo Fisher Scientific by 2.8% in the third quarter. Magnus Financial Group LLC now owns 3,397 shares of the medical research company’s stock valued at $2,101,000 after purchasing an additional 92 shares during the last quarter. Luts & Greenleigh Group Inc. purchased a new position in Thermo Fisher Scientific during the third quarter worth about $233,000. Dover Advisors LLC lifted its position in shares of Thermo Fisher Scientific by 6.1% during the 3rd quarter. Dover Advisors LLC now owns 3,669 shares of the medical research company’s stock worth $2,270,000 after buying an additional 212 shares in the last quarter. Finally, First Pacific Financial boosted its position in Thermo Fisher Scientific by 2.1% in the third quarter. First Pacific Financial now owns 2,351 shares of the medical research company’s stock worth $1,454,000 after purchasing an additional 48 shares during the last quarter. 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.