Bank of America Boosts 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 research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Several other analysts have also recently issued reports on TMO. Royal Bank of Canada upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an outperform rating in a research note on Thursday, July 25th. TD Cowen increased their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a buy rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Jefferies Financial Group reiterated a buy rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Barclays dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating for the company in a report on Friday, June 28th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $632.89.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $610.12 on Monday. The firm has a market cap of $233.07 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The stock has a 50 day moving average of $596.69 and a two-hundred day moving average 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 current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same period in the prior year, the company earned $5.15 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC grew its holdings in 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 in the last quarter. Cedar Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 14.5% in the 1st 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 in the last quarter. Lafayette Investments Inc. boosted its holdings in shares of Thermo Fisher Scientific by 2.1% in the 2nd 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 in the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Thermo Fisher Scientific by 1.8% in the 2nd 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 in the last quarter. Finally, Drive Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.9% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.