Bank of America Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $675.00

Thermo Fisher Scientific (NYSE:TMO) had its target price increased by Bank of America from $600.00 to $675.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other analysts also recently issued reports on TMO. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an outperform rating in a report on Thursday, July 25th. Jefferies Financial Group restated a buy rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Stifel Nicolaus boosted their price objective 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, July 25th. Finally, TD Cowen upped their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $632.89.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $620.26 on Monday. The firm has a fifty day moving average price of $598.25 and a 200-day moving average price of $581.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The stock has a market cap of $236.94 billion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88.

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, topping analysts’ consensus estimates of $5.13 by $0.24. The firm 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% compared to the same quarter last year. During the same period in the prior year, the company posted $5.15 earnings per share. Equities analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid 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 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now 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 valued at $14,094,292. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signature Resources Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. LifeSteps Financial Inc. bought a new position in Thermo Fisher Scientific during the first quarter worth $31,000. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific in the second quarter worth $29,000. Stephens Consulting LLC increased its position in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the period. Finally, True Wealth Design LLC increased its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds 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.