Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $650.00

Thermo Fisher Scientific (NYSE:TMO) had its target price lifted by Scotiabank from $605.00 to $650.00 in a research report released on Monday morning,Benzinga reports. They currently have a sector perform rating on the medical research company’s stock.

A number of other research firms also recently issued reports on TMO. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Bank of America lowered their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Stock Up 0.2 %

Shares of NYSE:TMO opened at $581.72 on Monday. Thermo Fisher Scientific has a 52-week low of $493.30 and a 52-week high of $627.88. The firm has a market capitalization of $222.51 billion, a P/E ratio of 35.19, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock has a 50 day moving average price of $544.31 and a 200-day moving average price of $571.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities research analysts anticipate that Thermo Fisher Scientific will post 23.29 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the sale, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,125 shares of company stock valued at $16,207,439. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. FMR LLC lifted its stake in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC raised its stake in Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after acquiring an additional 127,564 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after buying an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Thermo Fisher Scientific by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,665,902 shares of the medical research company’s stock worth $1,386,883,000 after purchasing an additional 29,344 shares during the period. 89.23% of the stock is currently owned by 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.