Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $658.00 at TD Cowen

Thermo Fisher Scientific (NYSE:TMO) had its target price lifted by investment analysts at TD Cowen from $648.00 to $658.00 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. TD Cowen’s target price suggests a potential upside of 10.32% from the stock’s current price.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Robert W. Baird upped their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Stifel Nicolaus boosted their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI reduced their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $618.94.

Thermo Fisher Scientific Stock Up 3.8 %

Thermo Fisher Scientific stock traded up $21.72 during midday trading on Thursday, hitting $596.45. The stock had a trading volume of 2,780,214 shares, compared to its average volume of 1,550,496. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The stock has a market cap of $227.68 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.58 and a beta of 0.77. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82. The business has a fifty day moving average price of $562.82 and a 200 day moving average price of $564.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.15 earnings per share. Research analysts predict that Thermo Fisher Scientific will post 21.63 EPS for the current year.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 of the company’s stock, valued at $7,430,359.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock worth $12,532,780 over the last 90 days. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several large investors have recently bought and sold shares of TMO. IFG Advisory LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $220,000. Altfest L J & Co. Inc. increased its position in shares of Thermo Fisher Scientific by 116.7% during the 4th quarter. Altfest L J & Co. Inc. now owns 1,573 shares of the medical research company’s stock worth $835,000 after purchasing an additional 847 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Thermo Fisher Scientific by 7.0% during the 4th quarter. Ritholtz Wealth Management now owns 3,908 shares of the medical research company’s stock worth $2,074,000 after purchasing an additional 254 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Thermo Fisher Scientific by 8.5% during the 4th quarter. Clear Harbor Asset Management LLC now owns 10,816 shares of the medical research company’s stock worth $5,741,000 after purchasing an additional 850 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Thermo Fisher Scientific during the 4th quarter worth about $96,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.