Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $650.00

Thermo Fisher Scientific (NYSE:TMO) had its price target raised by equities researchers at JPMorgan Chase & Co. from $600.00 to $650.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.53% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Raymond James lifted their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. The Goldman Sachs Group raised their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Evercore ISI increased their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays lowered Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $602.81.

Thermo Fisher Scientific Trading Up 0.5 %

NYSE TMO opened at $577.62 on Thursday. The company’s fifty day simple moving average is $572.61 and its 200-day simple moving average is $529.06. The stock has a market cap of $220.48 billion, a P/E ratio of 37.39, a PEG ratio of 2.42 and a beta of 0.80. Thermo Fisher Scientific has a 52 week low of $415.60 and a 52 week 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.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Equities research analysts predict that Thermo Fisher Scientific will post 21.51 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,277 shares of company stock valued at $28,513,384. Insiders own 0.32% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Institutional investors have recently modified their holdings of the company. WCM Investment Management LLC raised its holdings in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock worth $527,524,000 after purchasing an additional 2,928 shares in the last quarter. Phoenix Holdings Ltd. lifted its position in shares of Thermo Fisher Scientific by 21.4% during the 3rd quarter. Phoenix Holdings Ltd. now owns 9,366 shares of the medical research company’s stock valued at $4,750,000 after acquiring an additional 1,654 shares during the last quarter. DMC Group LLC boosted its stake in shares of Thermo Fisher Scientific by 16.5% during the 3rd quarter. DMC Group LLC now owns 592 shares of the medical research company’s stock worth $300,000 after acquiring an additional 84 shares in the last quarter. S. R. Schill & Associates raised its position in shares of Thermo Fisher Scientific by 106.3% during the fourth quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock worth $816,000 after purchasing an additional 792 shares during the period. Finally, Check Capital Management Inc. CA acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at $219,000. 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.