Thermo Fisher Scientific Inc. (NYSE:TMO) Receives $656.16 Average Price Target from Brokerages

Thermo Fisher Scientific Inc. (NYSE:TMO) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $656.16.

Several research analysts recently weighed in on TMO shares. Barclays raised their target price on Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company started coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price for the company. Bank of America raised their target price 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. Evercore ISI increased their price target on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $595.35 on Friday. The firm has a market capitalization of $227.42 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. 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 one year low of $415.60 and a one year high of $627.88. The stock’s fifty day moving average is $607.91 and its 200-day moving average is $584.40.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly 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. 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 period last year, the company earned $5.15 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Signature Resources Capital Management LLC grew its position 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 purchasing an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth $29,000. Stephens Consulting LLC grew its position in Thermo Fisher Scientific by 116.0% in 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. Headlands Technologies LLC acquired a new stake in Thermo Fisher Scientific in the 1st quarter worth $32,000. Finally, Bank & Trust Co acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth $33,000. 89.23% of the stock is currently 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.