HSBC Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $660.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective hoisted by HSBC from $630.00 to $660.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a report on Wednesday, April 10th. Barclays cut shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and upped their price objective for the stock from $475.00 to $555.00 in a report on Wednesday, January 24th. Royal Bank of Canada boosted their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Citigroup started coverage on Thermo Fisher Scientific in a research report on Monday, March 18th. They set a neutral rating and a $620.00 price objective for the company. Finally, Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $604.69.

Thermo Fisher Scientific Trading Up 0.6 %

NYSE:TMO opened at $544.79 on Wednesday. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $571.27 and a 200-day moving average price of $527.45. The stock has a market cap of $207.95 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 2.30 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, beating the consensus estimate of $5.64 by $0.03. The business had revenue of $10.89 billion for the quarter, compared to analysts’ expectations of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The business’s revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.40 EPS. Equities analysts predict that Thermo Fisher Scientific will post 21.52 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s payout ratio is 10.10%.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,039,491.68. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock valued at $28,513,384 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Thermo Fisher Scientific by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 32,978,438 shares of the medical research company’s stock valued at $17,504,625,000 after purchasing an additional 217,700 shares during the period. Morgan Stanley boosted its stake in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock worth $6,285,838,000 after acquiring an additional 50,736 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Thermo Fisher Scientific by 104,536.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock worth $4,601,150,000 after purchasing an additional 8,347,260 shares in the last quarter. Capital Research Global Investors lifted its holdings in Thermo Fisher Scientific by 6.9% in the 4th quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after purchasing an additional 517,137 shares in the last quarter. Finally, Providence Capital Advisors LLC grew its holdings in Thermo Fisher Scientific by 61,754.7% during the 1st quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock valued at $10,136,000 after buying an additional 5,832,730 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

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.