Thermo Fisher Scientific (NYSE:TMO) Given New $630.00 Price Target at Evercore ISI

Thermo Fisher Scientific (NYSE:TMO) had its price target lifted by Evercore ISI from $605.00 to $630.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

TMO has been the subject of a number of other research reports. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday. They issued an overweight rating and a $680.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a buy rating in a research report on Friday, September 20th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an overweight rating and a $670.00 price objective for the company. Raymond James upped their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an outperform rating in a report on Thursday, July 25th. Finally, UBS Group raised Thermo Fisher Scientific to a strong-buy rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $653.72.

Thermo Fisher Scientific Trading Down 0.9 %

Shares of Thermo Fisher Scientific stock opened at $612.92 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market cap of $234.13 billion, a price-to-earnings ratio of 39.31, a price-to-earnings-growth ratio of 3.90 and a beta of 0.78. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $627.88. The company’s 50-day simple moving average is $608.74 and its 200-day simple moving average is $582.32.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same period last year, the firm earned $5.15 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last quarter. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Several large investors have recently added to or reduced their stakes in the stock. Beaumont Financial Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 0.8% during the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after buying an additional 17 shares during the period. Cedar Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after purchasing an additional 17 shares in the last quarter. Lafayette Investments Inc. increased its stake in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after buying an additional 18 shares in the last quarter. Finally, Drive Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific by 0.9% during the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after acquiring an additional 18 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.