Scotiabank Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $650.00

Thermo Fisher Scientific (NYSE:TMO) had its target price upped by analysts at Scotiabank from $605.00 to $650.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the medical research company’s stock. Scotiabank’s price target points to a potential upside of 11.95% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Citigroup upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Stock Down 2.2 %

TMO opened at $580.63 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock has a fifty day moving average of $542.95 and a 200-day moving average of $571.55. Thermo Fisher Scientific has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a market capitalization of $222.09 billion, a P/E ratio of 35.13, a P/E/G ratio of 4.06 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities analysts expect that Thermo Fisher Scientific will post 23.29 EPS for the current year.

Thermo Fisher Scientific announced that its board has approved a share buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Several large investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Finally, Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.