Thermo Fisher Scientific (NYSE:TMO) Reaches New 1-Year High at $614.79

Thermo Fisher Scientific Inc. (NYSE:TMO) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $614.79 and last traded at $609.97, with a volume of 76345 shares trading hands. The stock had previously closed at $604.12.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TMO shares. Barclays dropped their price target on 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. Robert W. Baird increased their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. HSBC upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Raymond James raised their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $618.94.

Thermo Fisher Scientific Stock Up 1.4 %

The company’s fifty day simple moving average is $564.16 and its 200 day simple moving average is $567.20. The firm has a market capitalization of $237.34 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 2.86 and a beta of 0.77. 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 (NYSE:TMO) last announced its earnings results 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 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 18.22% and a net margin of 14.69%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.15 EPS. Research analysts expect that Thermo Fisher Scientific Inc. will post 21.71 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was 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 directly owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,084 shares of company stock worth $13,594,992. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its holdings in Thermo Fisher Scientific by 0.3% in the 4th quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock worth $527,524,000 after buying an additional 2,928 shares during the period. Summa Corp. bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $418,000. S. R. Schill & Associates boosted its stake in Thermo Fisher Scientific by 106.3% in the 4th quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock worth $816,000 after purchasing an additional 792 shares during the period. Tsfg LLC raised its position in shares of Thermo Fisher Scientific by 8.3% during the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after buying an additional 19 shares during the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $110,000. 89.23% of the stock is 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.