Redburn Atlantic Initiates Coverage on Thermo Fisher Scientific (NYSE:TMO)

Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a report released on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $680.00 price target on the medical research company’s stock. Redburn Atlantic’s price target points to a potential upside of 13.24% from the company’s current price.

Other analysts have also issued research reports about the company. Stephens initiated coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America boosted their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Robert W. Baird boosted their price target 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. Finally, Morgan Stanley boosted their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given 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 target price of $656.16.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $600.52 on Monday. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $627.88. The company has a market cap of $229.23 billion, a P/E ratio of 38.52, a P/E/G ratio of 3.80 and a beta of 0.77. The business’s 50 day moving average is $607.81 and its two-hundred day moving average is $583.76. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced 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. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter last year, the firm earned $5.15 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Marc N. Casper sold 6,300 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,548,375.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last 90 days. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Magnus Financial Group LLC increased its holdings in Thermo Fisher Scientific by 2.8% in the third quarter. Magnus Financial Group LLC now owns 3,397 shares of the medical research company’s stock valued at $2,101,000 after purchasing an additional 92 shares during the last quarter. Luts & Greenleigh Group Inc. acquired a new position in Thermo Fisher Scientific in the third quarter valued at about $233,000. Dover Advisors LLC grew its stake in Thermo Fisher Scientific by 6.1% in the third quarter. Dover Advisors LLC now owns 3,669 shares of the medical research company’s stock valued at $2,270,000 after acquiring an additional 212 shares during the period. First Pacific Financial grew its stake in Thermo Fisher Scientific by 2.1% in the third quarter. First Pacific Financial now owns 2,351 shares of the medical research company’s stock valued at $1,454,000 after acquiring an additional 48 shares during the period. Finally, Edge Wealth Management LLC acquired a new position in Thermo Fisher Scientific in the third quarter valued at about $201,000. 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.