Thermo Fisher Scientific (NYSE:TMO) Price Target Increased to $680.00 by Analysts at Stifel Nicolaus

Thermo Fisher Scientific (NYSE:TMO) had its price target boosted by Stifel Nicolaus from $615.00 to $680.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 10.76% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research note on Friday. Bank of America raised their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price for the company. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday. Finally, Barclays cut their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $647.78.

Thermo Fisher Scientific Stock Down 1.0 %

Shares of Thermo Fisher Scientific stock traded down $6.29 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 stock has a market capitalization of $234.53 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88. The stock has a 50 day moving average of $598.25 and a 200-day moving average of $581.25.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 firm 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%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $5.15 earnings per share. As a group, sell-side analysts forecast that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were 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 in the company, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 over the last ninety days. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors have recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC increased its stake in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. True Wealth Design LLC boosted its holdings in 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 buying an additional 51 shares in the last quarter. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $29,000. Stephens Consulting LLC raised its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, LifeSteps Financial Inc. acquired a new stake in Thermo Fisher Scientific during the first quarter worth about $31,000. Institutional investors 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.