Thermo Fisher Scientific (NYSE:TMO) Given Outperform Rating at Royal Bank of Canada

by · The Markets Daily

Royal Bank of Canada restated their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO – Free Report) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $767.00 price target on the medical research company’s stock.

TMO has been the topic of several other research reports. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating on the stock in a research note on Tuesday, July 2nd. Stifel Nicolaus lifted 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 note on Thursday, July 25th. Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. TD Cowen lifted their target price 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. Finally, Barclays dropped their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a research report on Friday, June 28th. Four equities research 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. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of Moderate Buy and a consensus target price of $647.78.

View Our Latest Report on Thermo Fisher Scientific

Thermo Fisher Scientific Stock Down 0.5 %

Shares of NYSE:TMO opened at $610.35 on Friday. The stock has a market capitalization of $232.98 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The company’s fifty day moving average is $600.88 and its two-hundred day moving average is $581.47. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $627.88. 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 (NYSE:TMO – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share 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 for the quarter, compared to the consensus estimate of $10.50 billion. During the same period last year, the firm posted $5.15 EPS. Thermo Fisher Scientific’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend 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, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were 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 in the company, valued at approximately $1,108,408.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the transaction, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

A number of large investors have recently bought and sold shares of TMO. Signature Resources Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. LifeSteps Financial Inc. bought a new position in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its stake in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

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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