Redburn Atlantic Begins Coverage on Thermo Fisher Scientific (NYSE:TMO)

Redburn Atlantic started coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a research note published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $680.00 price objective on the medical research company’s stock.

Several other brokerages have also recently commented on TMO. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. TD Cowen increased 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. Evercore ISI lifted their price objective on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $656.16.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $591.50 on Monday. The stock has a market capitalization of $225.95 billion, a PE ratio of 36.69, a P/E/G ratio of 3.86 and a beta of 0.77. The stock has a 50-day simple moving average of $607.90 and a 200 day simple moving average of $583.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month 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 the consensus estimate 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 business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter last year, the company posted $5.15 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,084 shares of company stock worth $14,094,292. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $295,000. Congress Asset Management Co. MA raised its stake in Thermo Fisher Scientific by 20.0% during the 4th quarter. Congress Asset Management Co. MA now owns 20,095 shares of the medical research company’s stock worth $10,666,000 after buying an additional 3,343 shares during the period. Nomura Holdings Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $15,005,000. Park National Corp OH bought a new stake in shares of Thermo Fisher Scientific in the first quarter worth about $207,000. Finally, Orrstown Financial Services Inc. bought a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at about $280,000. 89.23% of the stock is owned by institutional investors and hedge funds.

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.