Thermo Fisher Scientific (NYSE:TMO) Given New $670.00 Price Target at HSBC

Thermo Fisher Scientific (NYSE:TMO) had its target price raised by HSBC from $660.00 to $670.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other brokerages also recently commented on TMO. Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Royal Bank of Canada upped 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. Evercore ISI raised their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a buy rating in a report on Thursday, April 25th. Finally, Raymond James upped their target price on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of Moderate Buy and an average price target of $607.35.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $571.95 on Tuesday. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The stock has a market cap of $218.32 billion, a P/E ratio of 36.71, a PEG ratio of 2.38 and a beta of 0.80. The company has a 50-day moving average of $575.24 and a two-hundred day moving average of $532.25. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, research analysts predict that Thermo Fisher Scientific will post 21.64 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.27%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction that occurred 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 directly owns 1,207 shares in the company, valued at $660,192.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction dated 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 sale, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,277 shares of company stock valued at $35,373,364. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Accurate Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 6.3% during the third quarter. Accurate Wealth Management LLC now owns 553 shares of the medical research company’s stock worth $268,000 after purchasing an additional 33 shares during the last quarter. Vicus Capital acquired a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $344,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Thermo Fisher Scientific by 16.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 43,128 shares of the medical research company’s stock worth $21,830,000 after purchasing an additional 6,055 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 14.2% in the third quarter. Kingswood Wealth Advisors LLC now owns 995 shares of the medical research company’s stock valued at $504,000 after purchasing an additional 124 shares in the last quarter. Finally, Mission Wealth Management LP lifted its holdings in Thermo Fisher Scientific by 32.8% during the 3rd quarter. Mission Wealth Management LP now owns 4,156 shares of the medical research company’s stock worth $2,104,000 after buying an additional 1,026 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.