Thermo Fisher Scientific (NYSE:TMO) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $767.00 price objective on the medical research company’s stock.

A number of other research analysts have also weighed in on the company. UBS Group raised Thermo Fisher Scientific to a strong-buy rating in a report on Monday, September 16th. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. Barclays dropped their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating for the company in a report on Friday, June 28th. Bank of America increased their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a buy rating in a report on Monday, September 16th. Finally, Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of TMO stock opened at $613.69 on Friday. The stock has a 50 day simple moving average of $599.56 and a two-hundred day simple moving average of $581.38. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The company has a market cap of $234.26 billion, a P/E ratio of 39.36, a PEG ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

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

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TMO. Brookstone Capital Management lifted its holdings in Thermo Fisher Scientific by 252.4% in the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $40,335,000. Leo Wealth LLC acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $1,117,000. Rhenman & Partners Asset Management AB raised its holdings in shares of Thermo Fisher Scientific by 6,600.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 33,500 shares of the medical research company’s stock valued at $17,781,000 after purchasing an additional 33,000 shares in the last quarter. Finally, BDF Gestion acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth $6,368,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.