Thermo Fisher Scientific (NYSE:TMO) Given New $670.00 Price Target at JPMorgan Chase & Co.

Thermo Fisher Scientific (NYSE:TMO) had its target price hoisted by JPMorgan Chase & Co. from $650.00 to $670.00 in a research note released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical research company’s stock.

Other equities analysts have also issued reports about the company. Robert W. Baird increased their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Barclays reduced their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus increased their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a buy rating in a research report on Thursday, July 25th. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an overweight rating in a research report on Friday. Finally, Jefferies Financial Group restated a buy rating and set a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $647.78.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $610.35 on Friday. The business’s 50-day moving average price is $600.88 and its two-hundred day moving average price is $581.47. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $627.88. The stock has a market cap of $232.98 billion, a P/E ratio of 39.15, a PEG ratio of 2.86 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly 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 firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter last year, the firm posted $5.15 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. lifted its holdings in shares of Thermo Fisher Scientific by 3.3% during the second quarter. Centaurus Financial Inc. now owns 6,283 shares of the medical research company’s stock valued at $3,475,000 after purchasing an additional 201 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Thermo Fisher Scientific by 0.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 68,321 shares of the medical research company’s stock valued at $37,782,000 after purchasing an additional 264 shares in the last quarter. Heritage Wealth Management Inc. bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at $334,000. Sanctuary Advisors LLC purchased a new stake in Thermo Fisher Scientific during the second quarter valued at $31,573,000. Finally, Brown Financial Advisors purchased a new stake in Thermo Fisher Scientific during the second quarter valued at $671,000. 89.23% of the stock is owned by institutional investors.

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.