Thermo Fisher Scientific (NYSE:TMO) Rating Increased to Buy at StockNews.com

Thermo Fisher Scientific (NYSE:TMO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Other analysts have also recently issued reports about the stock. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen upped their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Redburn Atlantic began coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Trading Down 1.0 %

Thermo Fisher Scientific stock opened at $551.64 on Tuesday. The stock has a market cap of $211.00 billion, a PE ratio of 34.59, a P/E/G ratio of 3.54 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average price of $529.85 and a 200 day moving average price of $568.13. Thermo Fisher Scientific has a 52 week low of $493.30 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates 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 revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.69 earnings per share. Equities research analysts predict that Thermo Fisher Scientific will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred 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. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of large investors have recently bought and sold shares of TMO. State Street Corp lifted its holdings in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares during the last quarter. FMR LLC lifted its stake in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after acquiring an additional 127,564 shares during the period. Franklin Resources Inc. increased its holdings in shares of Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Thermo Fisher Scientific by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. 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.