Thermo Fisher Scientific (NYSE:TMO) Hits New 12-Month High at $614.79

Thermo Fisher Scientific Inc. (NYSE:TMO)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $614.79 and last traded at $609.97, with a volume of 76345 shares changing hands. The stock had previously closed at $604.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price 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. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. HSBC upped their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Royal Bank of Canada boosted their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $618.94.

Thermo Fisher Scientific Trading Up 1.4 %

The firm has a market cap of $237.34 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 2.86 and a beta of 0.77. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $564.16 and a 200 day moving average price of $567.20.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The company 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 quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.15 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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 of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,548,375.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now 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. Also, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were 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 in the company, valued at $74,548,375.44. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $13,594,992 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Thermo Fisher Scientific

Several hedge funds have recently added to or reduced their stakes in TMO. Willis Johnson & Associates Inc. boosted its position in shares of Thermo Fisher Scientific by 12.4% in the second quarter. Willis Johnson & Associates Inc. now owns 398 shares of the medical research company’s stock valued at $220,000 after acquiring an additional 44 shares during the period. Chilton Capital Management LLC grew its position in Thermo Fisher Scientific by 18.1% in the 2nd quarter. Chilton Capital Management LLC now owns 56,249 shares of the medical research company’s stock worth $31,105,000 after purchasing an additional 8,634 shares during the last quarter. Rockline Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 2.3% during the second quarter. Rockline Wealth Management LLC now owns 1,329 shares of the medical research company’s stock valued at $735,000 after buying an additional 30 shares during the last quarter. Versor Investments LP acquired a new stake in Thermo Fisher Scientific during the second quarter worth about $664,000. Finally, Phraction Management LLC increased its stake in Thermo Fisher Scientific by 0.6% during the second quarter. Phraction Management LLC now owns 27,205 shares of the medical research company’s stock valued at $15,044,000 after acquiring an additional 172 shares during the period. Institutional investors own 89.23% of the company’s stock.

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.