Bank of America Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $675.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective increased by stock analysts at Bank of America from $600.00 to $675.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Bank of America‘s price target indicates a potential upside of 10.44% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada lifted their target price on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Robert W. Baird increased their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Raymond James boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $632.89.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $611.17 on Monday. The firm has a market cap of $233.29 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $592.10 and its two-hundred day simple moving average is $580.22.

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Gianluca Pettiti sold 300 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 $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 approximately $10,747,403.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of hedge funds have recently made changes to their positions in the company. Signature Resources Capital Management LLC raised its stake in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares in the last quarter. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC boosted its position in Thermo Fisher Scientific by 116.0% during the second 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 last quarter. Finally, LifeSteps Financial Inc. purchased a new stake in Thermo Fisher Scientific during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.