Thermo Fisher Scientific (NYSE:TMO) Price Target Increased to $670.00 by Analysts at JPMorgan Chase & Co.

Thermo Fisher Scientific (NYSE:TMO) had its target price hoisted by JPMorgan Chase & Co. from $650.00 to $670.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.18% from the stock’s previous close.

A number of other equities analysts also recently issued reports on TMO. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Barclays lowered their target price on shares of 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. Finally, Raymond James raised their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $647.78.

Thermo Fisher Scientific Stock Down 1.1 %

Shares of NYSE TMO opened at $613.69 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $627.88. The stock has a market capitalization of $234.26 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78. The firm’s 50-day moving average price is $599.56 and its 200-day moving average price is $581.45.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.15 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 over the last 90 days. Insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in Thermo Fisher Scientific by 0.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 68,321 shares of the medical research company’s stock valued at $37,782,000 after buying an additional 264 shares during the period. Heritage Wealth Management Inc. acquired a new stake in Thermo Fisher Scientific during the second quarter valued at $334,000. Sanctuary Advisors LLC acquired a new stake in Thermo Fisher Scientific during the second quarter valued at $31,573,000. Brown Financial Advisors acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $671,000. Finally, Sycomore Asset Management grew its position in shares of Thermo Fisher Scientific by 9.5% in the second quarter. Sycomore Asset Management now owns 8,963 shares of the medical research company’s stock valued at $5,003,000 after purchasing an additional 781 shares during the period. 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.