Royal Bank of Canada Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $664.00

Thermo Fisher Scientific (NYSE:TMO) had its price target increased by Royal Bank of Canada from $660.00 to $664.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other research firms have also recently commented on TMO. Barclays cut their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft upped their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a buy rating in a research note on Thursday, April 25th. The Goldman Sachs Group upped their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an overweight rating in a report on Thursday, April 25th. Finally, HSBC upped their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $618.94.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $607.14 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $614.65. The stock has a 50 day moving average of $563.01 and a two-hundred day moving average of $565.97. The stock has a market cap of $231.76 billion, a P/E ratio of 38.94, a P/E/G ratio of 2.83 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate 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 business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the prior year, the business earned $5.15 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Thermo Fisher Scientific will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Large investors have recently made changes to their positions in the stock. Signature Resources Capital Management LLC lifted its position in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the period. Northwest Financial Advisors purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $29,000. True Wealth Design LLC lifted its position 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 during the period. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter worth about $29,000. Finally, LifeSteps Financial Inc. purchased a new position in Thermo Fisher Scientific during the first quarter worth about $31,000. Institutional investors and hedge funds 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.