Thermo Fisher Scientific (NYSE:TMO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Thermo Fisher Scientific (NYSE:TMO) from a hold rating to a buy rating in a research report sent to investors on Friday.

Several other analysts have also issued reports on TMO. TD Cowen reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, January 7th. Hsbc Global Res raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. The Goldman Sachs Group began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price on the stock. UBS Group upped their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Thermo Fisher Scientific Price Performance

TMO opened at $625.42 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $234.98 billion, a P/E ratio of 36.13, a PEG ratio of 4.11 and a beta of 0.91. The stock has a 50-day moving average price of $590.88 and a 200-day moving average price of $532.39. Thermo Fisher Scientific has a 12-month low of $385.46 and a 12-month high of $643.99.

Thermo Fisher Scientific Announces Dividend

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

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

Insiders Place Their Bets

In other news, COO Michel Lagarde sold 22,046 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the sale, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 124,517 shares of company stock worth $72,363,568. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TMO. TIAA Trust National Association raised its holdings in Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after acquiring an additional 11,817 shares during the last quarter. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Thermo Fisher Scientific by 8.4% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $5,875,000 after purchasing an additional 1,128 shares in the last quarter. Caledonia Investments PLC raised its stake in shares of Thermo Fisher Scientific by 11.5% in the second quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock worth $45,299,000 after purchasing an additional 11,500 shares during the last quarter. Weaver Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the third quarter valued at $506,000. Finally, Heritage Investors Management Corp increased its holdings in Thermo Fisher Scientific by 9.6% in the 2nd quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock worth $22,944,000 after buying an additional 4,971 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.