Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $686.00

Thermo Fisher Scientific (NYSE:TMO) had its price target raised by investment analysts at TD Cowen from $656.00 to $686.00 in a report released on Tuesday. TD Cowen’s price target would suggest a potential upside of 19.00% from the company’s current price.

A number of other brokerages also recently weighed in on TMO. Bank of America upped their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target on the stock. Five 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $655.50.

Thermo Fisher Scientific Trading Down 1.7 %

Shares of TMO stock opened at $576.49 on Tuesday. The stock has a market cap of $220.06 billion, a P/E ratio of 36.98, a price-to-earnings-growth ratio of 3.85 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. The stock has a 50 day simple moving average of $607.04 and a 200 day simple moving average of $584.39. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates 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%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.15 earnings per share. On average, research analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Thermo Fisher Scientific by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after acquiring an additional 117,353 shares in the last quarter. Capital World Investors grew its holdings in Thermo Fisher Scientific by 10.0% in 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 purchasing an additional 1,231,059 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Thermo Fisher Scientific by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after purchasing an additional 156,675 shares during the period. Capital Research Global Investors boosted its position in shares of 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 purchasing an additional 123,523 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in 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 buying an additional 604,895 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.