Thermo Fisher Scientific (NYSE:TMO) Rating Increased to Buy at StockNews.com

Thermo Fisher Scientific (NYSE:TMO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

TMO has been the subject of several other reports. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Bank of America decreased their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company reduced their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Scotiabank began coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price objective for the company. Finally, TD Cowen increased their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Price Performance

TMO traded up $1.97 during trading on Tuesday, reaching $557.49. 2,207,390 shares of the company were exchanged, compared to its average volume of 2,048,593. The company’s 50-day moving average is $529.85 and its two-hundred day moving average is $568.13. The company has a market cap of $213.24 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the company posted $5.69 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Research analysts forecast that Thermo Fisher Scientific will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMO. WINTON GROUP Ltd acquired a new position in Thermo Fisher Scientific during the second quarter valued at $332,000. One Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 154.1% during the second quarter. One Capital Management LLC now owns 2,343 shares of the medical research company’s stock worth $1,296,000 after purchasing an additional 1,421 shares in the last quarter. WealthPLAN Partners LLC boosted its position in Thermo Fisher Scientific by 6.5% during the second quarter. WealthPLAN Partners LLC now owns 4,120 shares of the medical research company’s stock worth $2,279,000 after acquiring an additional 253 shares during the last quarter. Lmcg Investments LLC grew its holdings in Thermo Fisher Scientific by 2.9% in the 2nd quarter. Lmcg Investments LLC now owns 14,382 shares of the medical research company’s stock valued at $7,953,000 after buying an additional 400 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of Thermo Fisher Scientific by 1.7% in the 2nd quarter. Moors & Cabot Inc. now owns 3,927 shares of the medical research company’s stock valued at $2,172,000 after buying an additional 67 shares during the period. 89.23% of the stock is currently 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.