Bernstein Bank Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $625.00

Thermo Fisher Scientific (NYSE:TMO) had its price target upped by equities researchers at Bernstein Bank from $565.00 to $625.00 in a report released on Tuesday. The brokerage presently has a “market perform” rating on the medical research company’s stock. Bernstein Bank’s price target would suggest a potential upside of 8.41% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price on the stock. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Raymond James increased their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $655.50.

Thermo Fisher Scientific Trading Down 1.7 %

TMO opened at $576.49 on Tuesday. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock has a market cap of $220.06 billion, a price-to-earnings ratio of 36.98, a P/E/G ratio of 3.85 and a beta of 0.77. The stock’s 50 day moving average price is $607.04 and its 200-day moving average price is $584.39.

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

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The trade was 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 accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Thermo Fisher Scientific by 0.4% during the first quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock worth $19,235,605,000 after purchasing an additional 117,353 shares in the last quarter. Capital World Investors increased its stake in shares of 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 buying an additional 1,231,059 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Thermo Fisher Scientific by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after acquiring an additional 156,675 shares during the last quarter. Capital Research Global Investors grew its holdings in Thermo Fisher Scientific by 1.5% during 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 acquiring an additional 123,523 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of 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 acquiring an additional 604,895 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other 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.