Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $670.00

Thermo Fisher Scientific (NYSE:TMO) had its price target lifted by analysts at HSBC from $660.00 to $670.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. HSBC’s target price indicates a potential upside of 16.50% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Citigroup initiated coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They set a “neutral” rating and a $620.00 price target for the company. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Evercore ISI lifted their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Royal Bank of Canada raised their price objective on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.35.

Thermo Fisher Scientific Stock Up 1.1 %

Shares of Thermo Fisher Scientific stock opened at $575.11 on Tuesday. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $603.82. The business has a 50-day moving average of $575.03 and a two-hundred day moving average of $531.97. The company has a market capitalization of $219.53 billion, a P/E ratio of 36.89, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. As a group, equities analysts predict that Thermo Fisher Scientific will post 21.59 EPS for the current year.

Insider Activity

In other news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,277 shares of company stock worth $35,373,364. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC boosted its position in Thermo Fisher Scientific by 48.7% during the first quarter. Resonant Capital Advisors LLC now owns 1,642 shares of the medical research company’s stock worth $955,000 after acquiring an additional 538 shares during the last quarter. Connecticut Wealth Management LLC boosted its holdings in Thermo Fisher Scientific by 1.1% in the 1st quarter. Connecticut Wealth Management LLC now owns 4,842 shares of the medical research company’s stock valued at $2,814,000 after purchasing an additional 54 shares during the last quarter. 1834 Investment Advisors Co. boosted its holdings in Thermo Fisher Scientific by 10.0% in the 1st quarter. 1834 Investment Advisors Co. now owns 1,809 shares of the medical research company’s stock valued at $1,051,000 after purchasing an additional 164 shares during the last quarter. Peterson Wealth Services boosted its holdings in Thermo Fisher Scientific by 3.3% in the 1st quarter. Peterson Wealth Services now owns 6,832 shares of the medical research company’s stock valued at $3,971,000 after purchasing an additional 216 shares during the last quarter. Finally, Ballast Advisors LLC boosted its holdings in Thermo Fisher Scientific by 8.0% in the 1st quarter. Ballast Advisors LLC now owns 1,654 shares of the medical research company’s stock valued at $961,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.