Thermo Fisher Scientific (NYSE:TMO) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $767.00 price objective on the medical research company’s stock.

Other analysts also recently issued research reports about the stock. Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a buy rating in a report on Monday, September 16th. TD Cowen boosted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a buy rating in a report on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an overweight rating and a $670.00 price objective on the stock. Jefferies Financial Group reaffirmed a buy rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Robert W. Baird upped their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an outperform rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of Moderate Buy and a consensus price target of $647.78.

Thermo Fisher Scientific Stock Down 0.5 %

Shares of NYSE:TMO opened at $610.35 on Friday. The company has a market cap of $232.98 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.86 and a beta of 0.78. The firm’s 50-day simple moving average is $600.88 and its 200-day simple moving average is $581.47. The company has a quick ratio of 1.37, 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 $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.15 earnings per share. As a group, equities research analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

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

Insider Buying and Selling

In related news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’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 transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several institutional investors have recently bought and sold shares of TMO. Capital World Investors grew its stake 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 during the period. Swedbank AB purchased a new stake in Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Veritas Asset Management LLP boosted its stake in shares of Thermo Fisher Scientific by 70.1% in the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the period. Winslow Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at $333,786,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.