Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $696.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective lifted by TD Cowen from $654.00 to $696.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the medical research company’s stock.

A number of other analysts have also recently weighed in on the company. Barclays increased their price objective on Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Argus increased their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Cowen reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $625.47.

Thermo Fisher Scientific Stock Up 2.1%

Shares of NYSE:TMO opened at $619.14 on Wednesday. Thermo Fisher Scientific has a 1-year low of $385.46 and a 1-year high of $628.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The stock has a market cap of $232.62 billion, a P/E ratio of 35.77, a P/E/G ratio of 3.99 and a beta of 0.91. The firm has a fifty day moving average price of $581.35 and a 200 day moving average price of $516.55.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. During the same period in the prior year, the company earned $5.28 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Sell-side analysts predict that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.94%.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the sale, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. The trade was a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 149,271 shares of company stock valued at $86,507,282 in the last three months. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC lifted its position in Thermo Fisher Scientific by 137.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after buying an additional 33 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after acquiring an additional 33 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $30,000. Finally, Capital A Wealth Management LLC increased its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.