Thermo Fisher Scientific (NYSE:TMO) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a research note released on Friday morning, Benzinga reports. The firm currently has a $767.00 price objective on the medical research company’s stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group restated a buy rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a buy rating in a research note on Monday, September 16th. TD Cowen raised their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a buy rating in a report on Thursday, July 25th. Barclays lowered their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a report on Friday, June 28th. Finally, Raymond James boosted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of Moderate Buy and an average target price of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of TMO stock opened at $613.69 on Friday. The firm has a market cap of $234.26 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a 50-day moving average of $599.56 and a two-hundred day moving average of $581.38.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same period in the previous year, the company posted $5.15 EPS. Thermo Fisher Scientific’s revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the sale, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TMO. Signature Resources Capital Management LLC boosted its position in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the period. LifeSteps Financial Inc. acquired a new position in shares of Thermo Fisher Scientific in the first quarter valued at approximately $31,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC increased its stake in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the period. Finally, True Wealth Design LLC increased its holdings in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

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.