Thermo Fisher Scientific (NYSE:TMO) PT Raised to $660.00

Thermo Fisher Scientific (NYSE:TMO) had its price target boosted by Raymond James from $650.00 to $660.00 in a research note released on Thursday, Benzinga reports. Raymond James currently has an outperform rating on the medical research company’s stock.

Several other equities research analysts have also weighed in on TMO. HSBC raised their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price 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. Jefferies Financial Group restated a buy rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Finally, Evercore ISI cut their target price 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. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $618.94.

Thermo Fisher Scientific Stock Up 3.4 %

Shares of NYSE:TMO opened at $594.50 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The stock has a market cap 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 firm’s 50 day moving average price is $562.77 and its 200 day moving average price is $565.19.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $5.15 EPS. As a group, equities research analysts predict that Thermo Fisher Scientific will post 21.64 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following 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. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $2,909,524,000. Capital World Investors boosted its holdings in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after buying an additional 1,231,059 shares in the last quarter. Swedbank AB acquired a new position in Thermo Fisher Scientific during the first quarter worth about $705,636,000. International Assets Investment Management LLC lifted its position in shares of Thermo Fisher Scientific by 61,995.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after acquiring an additional 1,008,045 shares during the period. Finally, Veritas Asset Management LLP boosted its stake in shares of Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after acquiring an additional 697,383 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.