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

Thermo Fisher Scientific (NYSE:TMO)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They presently have a $767.00 target price on the medical research company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 24.98% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Barclays dropped their price target 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. Bank of America upped 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. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Raymond James upped their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four equities 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $647.78.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $613.69 on Friday. The business’s 50 day moving average is $599.56 and its two-hundred day moving average is $581.45. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $627.88. The firm has a market cap of $234.26 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 2.86 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating 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%. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.15 EPS. Analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Hedge funds have recently modified their holdings of the stock. Beaumont Financial Advisors LLC lifted its stake in Thermo Fisher Scientific by 0.8% in the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after acquiring an additional 17 shares in the last quarter. Cedar Wealth Management LLC boosted its position in Thermo Fisher Scientific by 14.5% during the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after acquiring an additional 17 shares during the period. Lafayette Investments Inc. boosted its position in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after acquiring an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. boosted its position in Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after acquiring an additional 18 shares during the period. Finally, Drive Wealth Management LLC boosted its position in Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after acquiring an additional 18 shares during the period. 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.