UBS Group Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $715.00

Thermo Fisher Scientific (NYSE:TMO) had its target price raised by equities research analysts at UBS Group from $700.00 to $715.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. UBS Group’s price objective suggests a potential upside of 19.23% from the stock’s current price.

TMO has been the subject of several other reports. Bank of America reduced their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research note on Friday, January 10th. Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. TD Cowen increased their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Barclays lowered their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $654.27.

Thermo Fisher Scientific Stock Down 1.2 %

TMO stock traded down $7.04 during trading on Friday, reaching $599.70. 1,275,988 shares of the company traded hands, compared to its average volume of 2,068,463. Thermo Fisher Scientific has a 12 month low of $493.30 and a 12 month high of $627.88. The business has a 50 day simple moving average of $539.66 and a 200 day simple moving average of $570.59. The company has a market capitalization of $229.39 billion, a price-to-earnings ratio of 37.61, a price-to-earnings-growth ratio of 3.89 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data 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 return on equity of 17.49% and a net margin of 14.48%. On average, equities research analysts anticipate that Thermo Fisher Scientific will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a stock repurchase 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 buy up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, 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 value of $5,302,600.00. Following the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 29,000 shares of company stock valued at $15,859,540 over the last quarter. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Thermo Fisher Scientific by 86.2% in the second quarter. Quarry LP now owns 121 shares of the medical research company’s stock worth $67,000 after acquiring an additional 56 shares during the last quarter. Mattson Financial Services LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth $1,078,000. AMF Tjanstepension AB acquired a new position in Thermo Fisher Scientific in the third quarter valued at $42,409,000. Czech National Bank increased its stake in Thermo Fisher Scientific by 7.0% in the third quarter. Czech National Bank now owns 77,816 shares of the medical research company’s stock valued at $48,135,000 after purchasing an additional 5,076 shares during the last quarter. Finally, Farmers Trust Co. increased its stake in Thermo Fisher Scientific by 70.9% in the third quarter. Farmers Trust Co. now owns 622 shares of the medical research company’s stock valued at $385,000 after purchasing an additional 258 shares during the last quarter. 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.