Citigroup Forecasts Strong Price Appreciation for Thermo Fisher Scientific (NYSE:TMO) Stock

Key Points

• Citigroup raised its price target for Thermo Fisher Scientific from $500.00 to $580.00, suggesting a potential upside of 2.04% from the current price, while maintaining a "neutral" rating.
• Analysts' ratings vary, with Barclays setting a target of $585.00 and classifying the stock as "overweight", while Wells Fargo lowered its target to $565.00.
• Thermo Fisher Scientific reported $5.79 earnings per share for the latest quarter, exceeding estimates and showing a year-over-year revenue increase of 4.9%.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price target lifted by Citigroup from $500.00 to $580.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. Citigroup's target price points to a potential upside of 2.04% from the company's current price.

Several other equities analysts have also weighed in on the stock. Barclays boosted their target price on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. Evercore ISI upped their price objective on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an "outperform" rating in a report on Tuesday, October 7th. Finally, Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, October 8th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold 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 target price of $582.16.

Thermo Fisher Scientific Trading Up 1.9%

Shares of Thermo Fisher Scientific stock opened at $568.42 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. The firm has a fifty day moving average price of $500.65 and a 200 day moving average price of $451.30. Thermo Fisher Scientific has a 1 year low of $385.46 and a 1 year high of $610.97. The stock has a market cap of $214.64 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 3.22 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities research analysts predict that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 400 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $500.50, for a total transaction of $200,200.00. Following the transaction, the chief executive officer directly owned 113,762 shares of the company's stock, valued at approximately $56,937,881. This trade represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,066 shares of company stock worth $14,182,963 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Several hedge funds have recently made changes to their positions in TMO. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $807,713,000. Flossbach Von Storch SE lifted its stake in shares of Thermo Fisher Scientific by 93.0% in the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company's stock worth $1,105,698,000 after acquiring an additional 1,314,182 shares during the period. Nuveen LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at about $532,360,000. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of Thermo Fisher Scientific by 282.5% in the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company's stock valued at $536,450,000 after purchasing an additional 977,127 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.