Thermo Fisher Scientific (NYSE:TMO) Now Covered by Stephens

by · The Markets Daily

Stephens assumed coverage on shares of Thermo Fisher Scientific (NYSE:TMO – Free Report) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $680.00 price objective on the medical research company’s stock.

A number of other equities research analysts have also issued reports on TMO. Morgan Stanley increased their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an overweight rating in a research note on Friday, September 20th. TD Cowen raised their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a buy rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a buy rating in a research note on Friday, September 20th. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $653.72.

Check Out Our Latest Stock Analysis on TMO

Thermo Fisher Scientific Trading Down 1.9 %

Shares of TMO stock opened at $600.92 on Tuesday. The business’s fifty day moving average price is $609.63 and its 200 day moving average price is $582.66. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. The firm has a market capitalization of $229.55 billion, a PE ratio of 38.55, a P/E/G ratio of 3.90 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 – Get Free Report) last released its earnings results 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 firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.15 earnings per share. As a group, sell-side analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last three months. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Brookstone Capital Management grew its holdings in Thermo Fisher Scientific by 252.4% during the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares during the last quarter. Leo Wealth LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $1,117,000. BDF Gestion acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $6,368,000. Aviance Capital Partners LLC increased its stake in shares of Thermo Fisher Scientific by 20.9% in the first quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock valued at $7,581,000 after buying an additional 2,251 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Thermo Fisher Scientific by 1.9% in the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock valued at $45,478,000 after buying an additional 1,480 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

(Get Free Report)

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.

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