KeyCorp Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $710.00

Thermo Fisher Scientific (NYSE:TMO) had its target price boosted by KeyCorp from $555.00 to $710.00 in a research report report published on Monday morning, The Fly reports. They currently have an overweight rating on the medical research company’s stock. KeyCorp also issued estimates for Thermo Fisher Scientific’s FY2022 earnings at $21.35 EPS and FY2023 earnings at $22.95 EPS.

Several other research firms have also recently weighed in on TMO. Argus boosted their price target on Thermo Fisher Scientific from $530.00 to $600.00 and gave the stock a buy rating in a report on Wednesday, August 4th. Robert W. Baird boosted their price target on Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an outperform rating in a report on Wednesday, June 23rd. Cowen boosted their price target on Thermo Fisher Scientific from $525.00 to $560.00 and gave the stock an outperform rating in a report on Thursday, July 29th. The Goldman Sachs Group cut their price objective on Thermo Fisher Scientific from $590.00 to $530.00 and set a buy rating on the stock in a research note on Tuesday, June 15th. They noted that the move was a valuation call. Finally, Citigroup lifted their price objective on Thermo Fisher Scientific from $535.00 to $620.00 and gave the stock a neutral rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of Buy and an average price target of $588.05.

Thermo Fisher Scientific stock opened at $606.63 on Monday. Thermo Fisher Scientific has a 12-month low of $412.80 and a 12-month high of $610.19. The company has a quick ratio of 2.11, a current ratio of 2.78 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $550.32 and its two-hundred day moving average price is $499.39. The stock has a market cap of $238.66 billion, a PE ratio of 28.12, a P/E/G ratio of 1.33 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.51 by $0.09. The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $8.75 billion. Thermo Fisher Scientific had a return on equity of 29.43% and a net margin of 22.47%. As a group, analysts expect that Thermo Fisher Scientific will post 22.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 5.32%.

In other news, Director Jim P. Manzi sold 572 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $536.54, for a total transaction of $306,900.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total value of $5,390,500.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. MV Capital Management Inc. grew its holdings in Thermo Fisher Scientific by 577.8% during the second quarter. MV Capital Management Inc. now owns 61 shares of the medical research company’s stock worth $31,000 after buying an additional 52 shares in the last quarter. Roble Belko & Company Inc grew its holdings in Thermo Fisher Scientific by 914.3% during the first quarter. Roble Belko & Company Inc now owns 71 shares of the medical research company’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Bedel Financial Consulting Inc. grew its holdings in Thermo Fisher Scientific by 65.0% during the second quarter. Bedel Financial Consulting Inc. now owns 66 shares of the medical research company’s stock worth $33,000 after buying an additional 26 shares in the last quarter. Lake Point Wealth Management bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at $34,000. Finally, FFT Wealth Management LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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