Bernstein Bank Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $625.00

by · The Markets Daily

Thermo Fisher Scientific (NYSE:TMO – Free Report) had its target price increased by Bernstein Bank from $565.00 to $625.00 in a research report report published on Tuesday morning. The firm currently has a market perform rating on the medical research company’s stock.

Several other research firms have also recently issued reports on TMO. Raymond James lifted their target price 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. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target on the stock. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Get Our Latest Report on TMO

Thermo Fisher Scientific Trading Down 3.3 %

Shares of TMO stock opened at $557.38 on Tuesday. The stock has a 50 day simple moving average of $607.04 and a 200-day simple moving average of $584.39. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a market cap of $212.92 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 3.75 and a beta of 0.77. 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 issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company posted $5.69 EPS. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of hedge funds have recently modified their holdings of TMO. Brookstone Capital Management grew its position in Thermo Fisher Scientific by 252.4% during the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after purchasing an additional 3,142 shares during the last quarter. BDF Gestion acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $6,368,000. Aviance Capital Partners LLC lifted its position in Thermo Fisher Scientific by 20.9% during the 1st quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock worth $7,581,000 after acquiring an additional 2,251 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Thermo Fisher Scientific by 1.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock valued at $45,478,000 after purchasing an additional 1,480 shares during the last quarter. Finally, Advisors Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 5.8% during the first quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock worth $64,613,000 after purchasing an additional 6,089 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

About Thermo Fisher Scientific

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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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