Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $670.00 at JPMorgan Chase & Co.

Thermo Fisher Scientific (NYSE:TMO) had its price objective lifted by JPMorgan Chase & Co. from $650.00 to $670.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.13% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reiterated 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 Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Raymond James upped their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four 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. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $647.78.

Thermo Fisher Scientific Stock Down 1.0 %

Thermo Fisher Scientific stock traded down $6.29 during mid-day trading on Friday, hitting $613.96. The company had a trading volume of 462,697 shares, compared to its average volume of 1,489,477. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a market cap of $234.53 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 2.86 and a beta of 0.78. The business has a fifty day moving average of $598.25 and a 200 day moving average of $581.25. 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 released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The company 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%. Thermo Fisher Scientific’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.15 earnings per share. On average, sell-side analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the 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 transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now 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. Over the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Large investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Thermo Fisher Scientific by 0.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 68,321 shares of the medical research company’s stock worth $37,782,000 after buying an additional 264 shares during the period. Heritage Wealth Management Inc. bought a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $334,000. Sanctuary Advisors LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $31,573,000. Brown Financial Advisors bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $671,000. Finally, Sycomore Asset Management grew its stake in Thermo Fisher Scientific by 9.5% in the second quarter. Sycomore Asset Management now owns 8,963 shares of the medical research company’s stock valued at $5,003,000 after purchasing an additional 781 shares in the last quarter. Institutional investors and hedge funds 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.