Bank of America Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $675.00

Thermo Fisher Scientific (NYSE:TMO) had its target price boosted by Bank of America from $600.00 to $675.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

A number of other equities analysts also recently commented on TMO. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an overweight rating and a $670.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Finally, Raymond James upped their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $632.89.

Thermo Fisher Scientific Stock Down 0.1 %

TMO stock opened at $610.12 on Monday. The company has a fifty day moving average price of $596.69 and a 200 day moving average price of $580.98. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $627.88. The company has a market cap of $233.07 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the firm earned $5.15 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,860,920.55. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 in the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Beaumont Financial Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.8% during the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after acquiring an additional 17 shares during the period. Cedar Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 14.5% in the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after buying an additional 17 shares during the period. Lafayette Investments Inc. raised its holdings in Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after buying an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings in Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares during the period. Finally, Drive Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 0.9% in the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after buying an additional 18 shares during the period. 89.23% of the stock is currently owned by hedge funds and other 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.