Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $660.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective boosted by equities researchers at Raymond James from $650.00 to $660.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Raymond James’ target price would suggest a potential upside of 9.71% from the company’s previous close.

Several other research firms have also recently weighed in on TMO. HSBC boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Barclays dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $616.50.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO traded up $26.86 during mid-day trading on Thursday, reaching $601.59. The company had a trading volume of 2,244,190 shares, compared to its average volume of 1,546,721. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The stock has a market cap of $229.64 billion, a PE ratio of 38.64, a P/E/G ratio of 2.58 and a beta of 0.77. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $562.82 and a two-hundred day moving average price of $564.99.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.15 earnings per share. On average, equities analysts anticipate that Thermo Fisher Scientific will post 21.63 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,000 shares of company stock worth $12,532,780. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several large investors have recently bought and sold shares of the stock. WCM Investment Management LLC lifted its stake in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock valued at $527,524,000 after buying an additional 2,928 shares during the period. Summa Corp. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $418,000. S. R. Schill & Associates raised its stake in shares of Thermo Fisher Scientific by 106.3% in the fourth quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock valued at $816,000 after purchasing an additional 792 shares in the last quarter. Tsfg LLC lifted its position in Thermo Fisher Scientific by 8.3% in the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock worth $132,000 after purchasing an additional 19 shares during the period. Finally, Private Wealth Management Group LLC acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth $110,000. 89.23% of the stock is currently 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.