Thermo Fisher Scientific (NYSE:TMO) PT Raised to $670.00

Thermo Fisher Scientific (NYSE:TMO) had its price target increased by stock analysts at JPMorgan Chase & Co. from $650.00 to $670.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.18% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday. Bank of America raised their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Morgan Stanley raised their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Robert W. Baird raised their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $647.78.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $613.69 on Friday. 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 one year low of $415.60 and a one year high of $627.88. The company has a 50-day simple moving average of $599.56 and a two-hundred day simple moving average of $581.45. The firm has a market capitalization of $234.26 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78.

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

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the company’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 completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gianluca Pettiti sold 300 shares of the company’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 completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in 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 worth $19,235,605,000 after purchasing an additional 117,353 shares in the last quarter. Capital World Investors lifted its stake in Thermo Fisher Scientific by 10.0% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Thermo Fisher Scientific by 1.6% in the 1st 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 purchasing an additional 156,675 shares in the last quarter. Capital Research Global Investors lifted its stake in Thermo Fisher Scientific by 1.5% in 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. lifted its stake 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 worth $1,372,157,000 after purchasing an additional 604,895 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.