Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $680.00

Thermo Fisher Scientific (NYSE:TMO) had its target price upped by Morgan Stanley from $655.00 to $680.00 in a report issued on Friday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the medical research company’s stock.

A number of other research firms have also recently commented on TMO. TD Cowen raised their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a buy rating in a report on Thursday, July 25th. UBS Group raised Thermo Fisher Scientific to a strong-buy rating in a report on Monday, September 16th. Robert W. Baird lifted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an overweight rating and a $670.00 price target for the company. Finally, Jefferies Financial Group reiterated a buy rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $647.78.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $610.35 on Friday. 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 $600.88 and its 200 day moving average is $581.47. The stock has a market cap of $232.98 billion, a P/E ratio of 39.15, a P/E/G ratio of 2.86 and a beta of 0.78. 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 (NYSE:TMO) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $5.15 EPS. Sell-side analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given 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 of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the company’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 $1,201,700.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at $7,860,920.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds have recently modified their holdings of the company. Beaumont Financial Advisors LLC raised its position in shares of Thermo Fisher Scientific by 0.8% during the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after purchasing an additional 17 shares during the last quarter. Cedar Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 14.5% during the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after purchasing an additional 17 shares during the last quarter. Lafayette Investments Inc. raised its position in shares of Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after purchasing an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its position in shares of Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after purchasing an additional 18 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.