Stifel Nicolaus Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $680.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective boosted by Stifel Nicolaus from $615.00 to $680.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an overweight rating and a $670.00 price target for the company. Barclays cut their price target 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. Royal Bank of Canada reissued an outperform rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday. Jefferies Financial Group reissued a buy rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a buy rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $647.78.

Thermo Fisher Scientific Stock Down 0.5 %

Thermo Fisher Scientific stock opened at $610.35 on Friday. The company has a 50-day simple moving average of $600.88 and a 200-day simple moving average of $581.47. The firm has a market capitalization of $232.98 billion, a P/E ratio of 39.15, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $627.88.

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

Thermo Fisher Scientific Dividend Announcement

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,084 shares of company stock worth $14,094,292. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Brookstone Capital Management increased its stake in shares of Thermo Fisher Scientific by 252.4% in the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after buying an additional 3,142 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at $40,335,000. Leo Wealth LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $1,117,000. Rhenman & Partners Asset Management AB boosted its holdings in Thermo Fisher Scientific by 6,600.0% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 33,500 shares of the medical research company’s stock valued at $17,781,000 after acquiring an additional 33,000 shares during the last quarter. Finally, BDF Gestion bought a new position in Thermo Fisher Scientific in the second quarter valued at about $6,368,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

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.