Barclays Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $620.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective raised by Barclays from $600.00 to $620.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the medical research company’s stock.

Other equities analysts also recently issued reports about the stock. Bank of America boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday. They set a “buy” rating and a $680.00 target price for the company. Raymond James lifted their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Finally, Morgan Stanley increased 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 research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $656.16.

Thermo Fisher Scientific Stock Up 1.3 %

Shares of Thermo Fisher Scientific stock opened at $599.25 on Tuesday. The firm’s 50-day moving average is $607.88 and its two-hundred day moving average is $583.92. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88. The stock has a market cap of $228.91 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 3.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.15 earnings per share. As a group, research analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Joseph R. Holmes sold 860 shares of the firm’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 sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TMO. Signature Resources Capital Management LLC increased its holdings 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 acquiring an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Stephens Consulting LLC increased its stake in 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 buying an additional 29 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth approximately $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

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.