Brokerages Set Thermo Fisher Scientific Inc. (NYSE:TMO) Price Target at $305.27

Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) have received a consensus recommendation of “Buy” from the fourteen research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $309.92.

Several analysts have issued reports on the company. Credit Suisse Group reissued a “buy” rating and issued a $310.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday, July 31st. ValuEngine downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Needham & Company LLC lifted their price target on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $319.00 price target (up previously from $305.00) on shares of Thermo Fisher Scientific in a research note on Thursday.

Shares of TMO traded down $3.49 during midday trading on Monday, hitting $293.44. The stock had a trading volume of 1,230,912 shares, compared to its average volume of 1,574,113. The company has a 50 day simple moving average of $288.78 and a two-hundred day simple moving average of $281.64. Thermo Fisher Scientific has a twelve month low of $208.34 and a twelve month high of $305.45. The firm has a market cap of $112.53 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.06. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the business posted $2.62 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts forecast that Thermo Fisher Scientific will post 12.25 EPS for the current fiscal year.

In related news, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total value of $14,241,500.00. Following the sale, the chief executive officer now owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 2,271 shares of Thermo Fisher Scientific stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $298.00, for a total value of $676,758.00. Following the completion of the sale, the chief executive officer now directly owns 283,502 shares in the company, valued at approximately $84,483,596. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,104 shares of company stock worth $15,418,539. 0.45% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA increased its position in Thermo Fisher Scientific by 66.7% during the second quarter. Private Trust Co. NA now owns 3,273 shares of the medical research company’s stock worth $961,000 after buying an additional 1,310 shares during the last quarter. Fulton Bank N.A. increased its position in Thermo Fisher Scientific by 2.6% during the second quarter. Fulton Bank N.A. now owns 4,423 shares of the medical research company’s stock worth $1,299,000 after buying an additional 110 shares during the last quarter. Swedbank increased its position in Thermo Fisher Scientific by 91.8% during the second quarter. Swedbank now owns 782,855 shares of the medical research company’s stock worth $229,909,000 after buying an additional 374,739 shares during the last quarter. Davis Rea LTD. acquired a new position in Thermo Fisher Scientific during the second quarter worth approximately $1,443,000. Finally, Carroll Financial Associates Inc. increased its position in Thermo Fisher Scientific by 9.4% during the second quarter. Carroll Financial Associates Inc. now owns 1,367 shares of the medical research company’s stock worth $401,000 after buying an additional 118 shares during the last quarter. 88.21% of the stock is currently owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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