Thermo Fisher Scientific (NYSE:TMO) Price Target Increased to $650.00 by Analysts at SVB Leerink

Thermo Fisher Scientific (NYSE:TMOGet Rating) had its price objective upped by SVB Leerink from $630.00 to $650.00 in a report published on Friday morning, MarketBeat reports. The brokerage currently has an outperform rating on the medical research company’s stock. SVB Leerink also issued estimates for Thermo Fisher Scientific’s Q4 2022 earnings at $5.31 EPS, FY2022 earnings at $22.91 EPS, Q1 2023 earnings at $5.94 EPS, Q2 2023 earnings at $6.35 EPS, Q3 2023 earnings at $6.05 EPS, Q4 2023 earnings at $6.48 EPS and FY2023 earnings at $24.82 EPS.

A number of other analysts have also weighed in on the stock. StockNews.com initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, March 31st. They issued a hold rating for the company. Barclays decreased their target price on shares of Thermo Fisher Scientific from $675.00 to $630.00 and set an overweight rating for the company in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company lowered shares of Thermo Fisher Scientific from an equal weight rating to an underweight rating and cut their target price for the stock from $605.00 to $525.00 in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Thermo Fisher Scientific has an average rating of Moderate Buy and an average target price of $656.71.

Thermo Fisher Scientific Stock Down 1.5 %

Shares of NYSE:TMO opened at $589.55 on Friday. The stock’s fifty day simple moving average is $545.85 and its 200-day simple moving average is $557.41. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $230.79 billion, a P/E ratio of 31.38, a P/E/G ratio of 2.01 and a beta of 0.83. Thermo Fisher Scientific has a 52-week low of $497.83 and a 52-week high of $672.34.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last released its quarterly earnings data on Thursday, July 28th. The medical research company reported $5.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.59. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $9.95 billion. Thermo Fisher Scientific had a net margin of 17.37% and a return on equity of 24.36%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.60 earnings per share. As a group, equities research analysts forecast that Thermo Fisher Scientific will post 22.94 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Wednesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 6.39%.

Insider Transactions at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 17,150 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $548.30, for a total value of $9,403,345.00. Following the completion of the sale, the chief operating officer now directly owns 15,758 shares of the company’s stock, valued at approximately $8,640,111.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Michel Lagarde sold 17,150 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $548.30, for a total transaction of $9,403,345.00. Following the sale, the chief operating officer now owns 15,758 shares in the company, valued at $8,640,111.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 2,181 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $562.46, for a total transaction of $1,226,725.26. Following the sale, the chief executive officer now directly owns 183,373 shares in the company, valued at approximately $103,139,977.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,361 shares of company stock worth $17,992,541. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMO. Karp Capital Management Corp raised its holdings in Thermo Fisher Scientific by 0.5% during the 4th quarter. Karp Capital Management Corp now owns 3,195 shares of the medical research company’s stock valued at $2,132,000 after buying an additional 17 shares during the period. Archer Investment Corp boosted its stake in Thermo Fisher Scientific by 1.3% in the fourth quarter. Archer Investment Corp now owns 1,317 shares of the medical research company’s stock valued at $879,000 after acquiring an additional 17 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in Thermo Fisher Scientific by 2.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 647 shares of the medical research company’s stock valued at $432,000 after buying an additional 17 shares in the last quarter. Cadence Bank NA grew its position in Thermo Fisher Scientific by 0.3% during the 1st quarter. Cadence Bank NA now owns 7,050 shares of the medical research company’s stock worth $4,164,000 after purchasing an additional 18 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Thermo Fisher Scientific by 11.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 169 shares of the medical research company’s stock worth $92,000 after buying an additional 18 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.

About Thermo Fisher Scientific

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Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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