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

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

A number of other equities research analysts have also recently issued reports on the stock. Barclays cut their price objective 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. Stifel Nicolaus increased their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a buy rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a research report on Thursday, April 25th. Jefferies Financial Group reissued a buy rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $618.94.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $594.50 on Thursday. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $603.82. The stock has a market capitalization of $226.93 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 2.68 and a beta of 0.77. The company has a fifty day moving average of $562.77 and a 200-day moving average of $565.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.33 and a current ratio of 1.72.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company 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 company earned $5.15 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Equities research analysts expect that Thermo Fisher Scientific will post 21.64 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. 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 10.01%.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Thermo Fisher Scientific by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock worth $19,235,605,000 after acquiring an additional 117,353 shares during the period. Capital World Investors raised its stake in Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Thermo Fisher Scientific by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after acquiring an additional 156,675 shares during the period. Capital Research Global Investors raised its stake in Thermo Fisher Scientific by 1.5% during the 1st quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after acquiring an additional 123,523 shares during the period. Finally, Norges Bank bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $2,909,524,000. Institutional investors 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.