TD Cowen Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $686.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective increased by TD Cowen from $656.00 to $686.00 in a research note issued to investors on Tuesday. TD Cowen’s price target would suggest a potential upside of 16.91% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Evercore ISI boosted their target price on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Bank of America increased their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Raymond James boosted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $656.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded down $8.61 on Tuesday, hitting $586.76. 719,888 shares of the company traded hands, compared to its average volume of 1,460,397. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average price is $607.91 and its 200-day moving average price is $584.40. The company has a market capitalization of $224.14 billion, a price-to-earnings ratio of 36.40, a P/E/G ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results 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. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the firm earned $5.15 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 $76,420,473.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Hedge funds have recently modified their holdings of the company. Signature Resources Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC boosted its stake in shares of Thermo Fisher Scientific by 116.0% during 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. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at about $32,000. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific during the second quarter worth $33,000. 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.