Stephens Begins Coverage on Thermo Fisher Scientific (NYSE:TMO)

Equities research analysts at Stephens initiated coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set an “overweight” rating and a $680.00 price target on the medical research company’s stock. Stephens’ price target suggests a potential upside of 9.93% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Robert W. Baird upped their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Finally, Barclays reduced their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $652.06.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $618.57 on Tuesday. The firm has a market capitalization of $236.29 billion, a PE ratio of 39.68, a PEG ratio of 3.90 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88. The firm’s fifty day simple moving average is $607.53 and its 200 day simple moving average is $582.11.

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

Insider Activity

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’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 transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors and hedge funds have recently bought and sold shares of TMO. Brookstone Capital Management boosted its holdings in shares of Thermo Fisher Scientific by 252.4% in the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after buying an additional 3,142 shares during the last quarter. Leo Wealth LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $1,117,000. BDF Gestion bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $6,368,000. Aviance Capital Partners LLC grew its holdings in Thermo Fisher Scientific by 20.9% during the first quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock worth $7,581,000 after purchasing an additional 2,251 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in Thermo Fisher Scientific by 1.9% during the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after buying an additional 1,480 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

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.