Stifel Nicolaus Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $680.00

Thermo Fisher Scientific (NYSE:TMO) had its price target hoisted by Stifel Nicolaus from $615.00 to $680.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other analysts have also issued reports about the company. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an overweight rating and a $670.00 price target for the company. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. UBS Group upgraded shares of Thermo Fisher Scientific to a strong-buy rating in a report on Monday, September 16th. Raymond James increased their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Finally, Barclays dropped their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating for the company in a research note on Friday, June 28th. Four 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’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of TMO stock opened at $613.69 on Friday. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a market capitalization of $234.26 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 2.86 and a beta of 0.78. The firm has a 50-day moving average price of $599.56 and a 200 day moving average price of $581.38. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.15 earnings per share. Research analysts forecast that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced 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 0.25%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, 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 transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Large investors have recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC lifted its position in shares of 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 worth $25,000 after buying an additional 35 shares during the last quarter. True Wealth Design LLC lifted its holdings in Thermo Fisher Scientific by 1,275.0% in the fourth 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 during the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC raised its position 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 purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific during the 1st quarter valued at approximately $31,000. 89.23% of the stock is currently owned by institutional investors.

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.