Thermo Fisher Scientific (NYSE:TMO) Given New $670.00 Price Target at HSBC

Thermo Fisher Scientific (NYSE:TMO) had its target price boosted by HSBC from $660.00 to $670.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada increased their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Evercore ISI lifted their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Raymond James upped their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Citigroup initiated coverage on Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a neutral rating and a $620.00 target price for the company. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of Moderate Buy and a consensus target price of $607.35.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $571.95 on Tuesday. The business has a 50-day simple moving average of $575.24 and a two-hundred day simple moving average of $532.25. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The stock has a market cap of $218.32 billion, a PE ratio of 36.71, a PEG ratio of 2.38 and a beta of 0.80. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Analysts anticipate that Thermo Fisher Scientific will post 21.64 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the sale, the chief executive officer now owns 49,155 shares in the company, valued at $27,311,992.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The disclosure for this sale can be found here. Insiders have sold 62,277 shares of company stock worth $35,373,364 over the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $2,909,524,000. International Assets Investment Management LLC lifted its stake in shares of Thermo Fisher Scientific by 61,995.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock worth $535,923,000 after buying an additional 1,008,045 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Thermo Fisher Scientific by 17,046.7% during the third quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock valued at $492,803,000 after buying an additional 967,913 shares during the last quarter. Veritas Asset Management LLP boosted its stake in Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the last quarter. Finally, Winslow Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $333,786,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Company Profile

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.