Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $680.00 at Wells Fargo & Company

Thermo Fisher Scientific (NYSE:TMO) had its price target raised by research analysts at Wells Fargo & Company from $660.00 to $680.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 13.00% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird lowered their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Barclays decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $651.38.

Thermo Fisher Scientific Trading Down 0.8 %

Shares of Thermo Fisher Scientific stock traded down $4.96 during midday trading on Friday, reaching $601.78. 342,707 shares of the company’s stock traded hands, compared to its average volume of 2,018,526. Thermo Fisher Scientific has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a market cap of $230.18 billion, a PE ratio of 37.73, a price-to-earnings-growth ratio of 3.89 and a beta of 0.76. The stock has a 50 day moving average of $539.66 and a 200-day moving average of $570.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. As a group, equities analysts expect that Thermo Fisher Scientific will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at $8,076,178.88. The trade was a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 29,000 shares of company stock valued at $15,859,540. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after buying an additional 127,564 shares during the period. Coldstream Capital Management Inc. raised its position in Thermo Fisher Scientific by 11.4% in the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after purchasing an additional 995 shares during the period. Greenwood Gearhart Inc. lifted its stake in Thermo Fisher Scientific by 9.8% during the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after purchasing an additional 1,837 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after buying an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its position in shares of Thermo Fisher Scientific by 6.2% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock worth $5,528,000 after purchasing an additional 618 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.