Raymond James Reaffirms “Outperform” Rating for Thermo Fisher Scientific (NYSE:TMO)

Raymond James reiterated their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a research report report published on Monday,Benzinga reports. They currently have a $667.00 price target on the medical research company’s stock, up from their previous price target of $650.00.

Several other research firms have also commented on TMO. Scotiabank initiated coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price target for the company. Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Bernstein Bank lifted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $581.72 on Monday. The business has a 50-day moving average price of $544.31 and a 200-day moving average price of $571.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific has a twelve month low of $493.30 and a twelve month high of $627.88. The firm has a market cap of $222.51 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 4.06 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, equities research analysts predict that Thermo Fisher Scientific will post 23.29 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. 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 Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,125 shares of company stock worth $16,207,439 in the last three months. Corporate 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. IFG Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after purchasing an additional 17 shares in the last quarter. Stonegate Investment Group LLC increased its holdings in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after acquiring an additional 18 shares in the last quarter. Semus Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 4.0% in the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after purchasing an additional 18 shares in the last quarter. Axiom Advisory LLC increased its stake in Thermo Fisher Scientific by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock valued at $720,000 after purchasing an additional 19 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares during the period. 89.23% of the stock is currently 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.