Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $675.00 at Bank of America

Thermo Fisher Scientific (NYSE:TMO) had its price target boosted by equities research analysts at Bank of America from $600.00 to $675.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Bank of America‘s target price would suggest a potential upside of 10.44% from the company’s previous close.

TMO has been the topic of a number of other research reports. Stifel Nicolaus lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Evercore ISI reduced their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. 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. 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 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $632.89.

Thermo Fisher Scientific Stock Down 0.5 %

NYSE TMO opened at $611.17 on Monday. The business’s 50-day moving average is $592.10 and its 200 day moving average is $580.22. The stock has a market capitalization of $233.29 billion, a PE ratio of 39.20, a PEG ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. 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 earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, 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 transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s 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 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several large investors have recently added to or reduced their stakes in the business. Signature Resources Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the period. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $29,000. Stephens Consulting LLC increased its holdings in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. bought a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. 89.23% of the stock is currently owned by 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.