Thermo Fisher Scientific (NYSE:TMO) Coverage Initiated at Scotiabank

Equities researchers at Scotiabank started coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a report issued on Monday, Marketbeat.com reports. The firm set a “sector perform” rating and a $605.00 price target on the medical research company’s stock. Scotiabank’s price target indicates a potential upside of 14.37% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company lowered their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Bank of America lowered their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. TD Cowen lifted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Morgan Stanley raised their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $650.05.

Thermo Fisher Scientific Stock Up 0.7 %

Shares of TMO opened at $528.98 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a market capitalization of $202.33 billion, a PE ratio of 33.16, a P/E/G ratio of 3.54 and a beta of 0.77. The company’s 50-day simple moving average is $541.47 and its 200-day simple moving average is $571.77. Thermo Fisher Scientific has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.69 earnings per share. Analysts forecast that Thermo Fisher Scientific will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of TMO. Legacy Wealth Management LLC MS raised its holdings in Thermo Fisher Scientific by 6.0% during the third quarter. Legacy Wealth Management LLC MS now owns 4,308 shares of the medical research company’s stock worth $2,665,000 after purchasing an additional 244 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Thermo Fisher Scientific by 147.2% during the 3rd quarter. Retirement Systems of Alabama now owns 208,155 shares of the medical research company’s stock worth $128,758,000 after buying an additional 123,952 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $16,393,000. Inspire Trust Co. N.A. increased its holdings in Thermo Fisher Scientific by 6.3% during the 3rd quarter. Inspire Trust Co. N.A. now owns 3,135 shares of the medical research company’s stock valued at $1,939,000 after acquiring an additional 185 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 796.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 224 shares of the medical research company’s stock valued at $139,000 after purchasing an additional 199 shares in the last quarter. 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.