Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $675.00

Thermo Fisher Scientific (NYSE:TMO) had its target price raised by SVB Leerink from $600.00 to $675.00 in a report published on Monday morning, The Fly reports. The brokerage currently has an outperform rating on the medical research company’s stock.

A number of other brokerages have also recently commented on TMO. Zacks Investment Research cut shares of Thermo Fisher Scientific from a hold rating to a strong sell rating and set a $491.00 price target on the stock. in a research report on Monday, July 12th. Benchmark assumed coverage on shares of Thermo Fisher Scientific in a research report on Friday, July 16th. They set a buy rating and a $580.00 price target on the stock. BTIG Research increased their price target on shares of Thermo Fisher Scientific from $590.00 to $610.00 and gave the company a buy rating in a research report on Thursday, July 29th. The Goldman Sachs Group cut their target price on shares of Thermo Fisher Scientific from $590.00 to $530.00 and set a buy rating on the stock in a report on Tuesday, June 15th. They noted that the move was a valuation call. Finally, Citigroup increased their price target on shares of Thermo Fisher Scientific from $535.00 to $620.00 and gave the company a neutral rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $575.19.

Shares of TMO opened at $590.20 on Monday. The firm’s 50 day simple moving average is $546.75 and its 200 day simple moving average is $497.57. The company has a market capitalization of $232.20 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.33 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.78 and a quick ratio of 2.11. Thermo Fisher Scientific has a 1-year low of $412.80 and a 1-year high of $609.30.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Wednesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, September 14th. Thermo Fisher Scientific’s payout ratio is 5.32%.

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

Several large investors have recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC boosted its stake in Thermo Fisher Scientific by 9.7% during the first quarter. Exencial Wealth Advisors LLC now owns 892 shares of the medical research company’s stock valued at $407,000 after buying an additional 79 shares during the last quarter. Jackson Hole Capital Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 46.1% in the first quarter. Jackson Hole Capital Partners LLC now owns 872 shares of the medical research company’s stock worth $398,000 after buying an additional 275 shares during the period. Sowell Financial Services LLC increased its holdings in shares of Thermo Fisher Scientific by 46.8% in the 1st quarter. Sowell Financial Services LLC now owns 13,925 shares of the medical research company’s stock valued at $6,546,000 after acquiring an additional 4,439 shares during the period. Meridian Wealth Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 82.3% in the 1st quarter. Meridian Wealth Advisors LLC now owns 516 shares of the medical research company’s stock valued at $236,000 after acquiring an additional 233 shares during the period. Finally, Meridian Wealth Management LLC boosted its position in shares of Thermo Fisher Scientific by 152.3% in the 1st quarter. Meridian Wealth Management LLC now owns 2,720 shares of the medical research company’s stock worth $1,241,000 after purchasing an additional 1,642 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

About Thermo Fisher Scientific

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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