Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $680.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective boosted by Morgan Stanley from $655.00 to $680.00 in a research note issued to investors on Friday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the medical research company’s stock.

Several other equities research analysts have also issued reports on the company. Evercore ISI dropped their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an outperform rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday. UBS Group raised Thermo Fisher Scientific to a strong-buy rating in a research note on Monday, September 16th. Robert W. Baird lifted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Finally, TD Cowen lifted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a buy rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $647.78.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $610.35 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. The business has a fifty day simple moving average of $600.88 and a two-hundred day simple moving average of $581.47. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88. The company has a market capitalization of $232.98 billion, a P/E ratio of 39.15, a P/E/G ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $5.15 earnings per share. On average, analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 approximately $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors have recently added to or reduced their stakes in TMO. Accretive Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 8.1% during the 4th quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 48 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in Thermo Fisher Scientific by 9.7% during the 4th quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock valued at $433,000 after purchasing an additional 72 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in Thermo Fisher Scientific by 8.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock valued at $794,000 after purchasing an additional 116 shares during the last quarter. TrinityPoint Wealth LLC boosted its stake in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. TrinityPoint Wealth LLC now owns 4,080 shares of the medical research company’s stock worth $2,166,000 after buying an additional 164 shares during the last quarter. Finally, SageView Advisory Group LLC boosted its stake in shares of Thermo Fisher Scientific by 11.3% in the 4th quarter. SageView Advisory Group LLC now owns 3,532 shares of the medical research company’s stock worth $2,003,000 after buying an additional 359 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.