Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $664.00 at Royal Bank of Canada

Thermo Fisher Scientific (NYSE:TMO) had its price target lifted by Royal Bank of Canada from $660.00 to $664.00 in a report published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical research company’s stock.

Several other equities research analysts have also recently commented on TMO. The Goldman Sachs Group boosted their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Jefferies Financial Group reaffirmed a buy rating and issued a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Evercore ISI cut 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 report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of Moderate Buy and a consensus target price of $618.94.

Thermo Fisher Scientific Trading Up 3.4 %

Shares of NYSE TMO opened at $594.50 on Thursday. The company’s fifty day moving average is $562.77 and its 200-day moving average is $565.19. The stock has a market cap of $226.93 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.68 and a beta of 0.77. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $603.82. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $5.15 earnings per share. Equities research analysts predict that Thermo Fisher Scientific will post 21.64 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,238,340.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Signature Resources Capital Management LLC grew its stake in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Northwest Financial Advisors acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $29,000. True Wealth Design LLC grew its stake in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Finally, LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at about $31,000. 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.