Stifel Nicolaus Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $615.00

Thermo Fisher Scientific (NYSE:TMO) had its target price increased by stock analysts at Stifel Nicolaus from $600.00 to $615.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 3.16% from the company’s previous close.

TMO has been the topic of a number of other research reports. Evercore ISI dropped their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Jefferies Financial Group restated a “buy” rating and set a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. HSBC boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. 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 report on Friday, June 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $611.69.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded up $21.45 during mid-day trading on Thursday, reaching $596.18. 1,271,140 shares of the company’s stock were exchanged, compared to its average volume of 1,539,869. The firm has a market capitalization of $227.57 billion, a PE ratio of 38.13, a P/E/G ratio of 2.58 and a beta of 0.77. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $562.82 and its 200 day simple moving average is $564.99. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.15 earnings per share. On average, sell-side analysts expect that Thermo Fisher Scientific will post 21.63 earnings per share for the current year.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,430,359.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,000 shares of company stock worth $12,532,780. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Destination Wealth Management raised its stake in shares of Thermo Fisher Scientific by 1.0% during the second quarter. Destination Wealth Management now owns 35,062 shares of the medical research company’s stock valued at $19,389,000 after acquiring an additional 350 shares during the last quarter. Wesleyan Assurance Society increased its holdings in Thermo Fisher Scientific by 47.5% during the 2nd quarter. Wesleyan Assurance Society now owns 295 shares of the medical research company’s stock valued at $163,000 after purchasing an additional 95 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Thermo Fisher Scientific by 13.0% in the 2nd quarter. Bank Pictet & Cie Europe AG now owns 151,039 shares of the medical research company’s stock worth $83,525,000 after buying an additional 17,430 shares during the period. First Merchants Corp grew its position in shares of Thermo Fisher Scientific by 26.2% in the 2nd quarter. First Merchants Corp now owns 2,080 shares of the medical research company’s stock worth $1,150,000 after buying an additional 432 shares during the last quarter. Finally, Nichols & Pratt Advisers LLP MA raised its holdings in shares of Thermo Fisher Scientific by 7.5% during the second quarter. Nichols & Pratt Advisers LLP MA now owns 20,523 shares of the medical research company’s stock valued at $11,349,000 after acquiring an additional 1,434 shares in 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.