Thermo Fisher Scientific Inc. (NYSE:TMO) Receives $633.68 Consensus Target Price from Analysts

Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $633.6842.

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Finally, KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $519.57 on Tuesday. The company has a market cap of $193.01 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.96 and a beta of 0.96. Thermo Fisher Scientific has a 1-year low of $385.46 and a 1-year high of $643.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock has a 50-day moving average of $568.86 and a two-hundred day moving average of $548.23.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.10 earnings per share. As a group, analysts anticipate that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a $0.47 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Thermo Fisher Scientific announced that its board has approved a stock repurchase plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer owned 123,925 shares in the company, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares in the last quarter. IFG Advisory LLC boosted its stake in shares of Thermo Fisher Scientific by 17.2% during the second quarter. IFG Advisory LLC now owns 497 shares of the medical research company’s stock valued at $202,000 after acquiring an additional 73 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Thermo Fisher Scientific by 56.2% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,632 shares of the medical research company’s stock worth $662,000 after purchasing an additional 587 shares in the last quarter. Finally, Versor Investments LP acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $271,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.