Thermo Fisher Scientific (NYSE:TMO) PT Raised to $675.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective upped by stock analysts at Bank of America from $600.00 to $675.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Bank of America‘s price target indicates a potential upside of 10.61% from the company’s previous close.

TMO has been the subject of several other reports. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. TD Cowen raised their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird raised their price objective 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. Finally, 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 report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $632.89.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $610.26 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $595.23 and a 200-day moving average of $580.77. The firm has a market cap of $232.95 billion, a P/E ratio of 39.14, a P/E/G ratio of 2.86 and a beta of 0.78. 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 for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.15 earnings per share. Sell-side analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated 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 approximately $76,420,473.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC raised its position in 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 during the period. True Wealth Design LLC increased its position in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the period. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $29,000. Stephens Consulting LLC increased its position in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the period. Finally, LifeSteps Financial Inc. purchased a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $31,000. 89.23% of the stock is owned by hedge funds and other 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.