Thermo Fisher Scientific (NYSE:TMO) Given New $620.00 Price Target at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO) had its price objective trimmed by Robert W. Baird from $621.00 to $620.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

A number of other brokerages also recently weighed in on TMO. Sanford C. Bernstein reaffirmed a market perform rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Royal Bank of Canada boosted their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Evercore ISI upped their target price 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. The Goldman Sachs Group upped their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Raymond James upped their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of Moderate Buy and an average target price of $606.76.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $572.10 on Thursday. The firm has a market cap of $218.38 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.80. The firm’s 50-day simple moving average is $573.08 and its 200-day simple moving average is $529.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.39 and a current ratio of 1.70. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Equities analysts forecast that Thermo Fisher Scientific will post 21.52 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

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

Institutional Trading of Thermo Fisher Scientific

Hedge funds have recently bought and sold shares of the stock. WCM Investment Management LLC boosted its holdings in 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 valued at $527,524,000 after purchasing an additional 2,928 shares during the period. Phoenix Holdings Ltd. lifted its holdings 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 worth $4,750,000 after acquiring an additional 1,654 shares during the period. DMC Group LLC lifted its holdings 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 during the period. S. R. Schill & Associates lifted its holdings in shares of Thermo Fisher Scientific by 106.3% during the 4th quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock worth $816,000 after acquiring an additional 792 shares during the period. Finally, Check Capital Management Inc. CA bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $219,000. 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.