Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $660.00

Thermo Fisher Scientific (NYSE:TMO - Free Report) had its target price upped by HSBC from $630.00 to $660.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the medical research company's stock.

Several other equities research analysts have also commented on TMO. Citigroup assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a neutral rating and a $620.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research note on Thursday, February 1st. The Goldman Sachs Group raised their price target on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research note on Wednesday, April 10th. TheStreet upgraded shares of Thermo Fisher Scientific from a c+ rating to a b- rating in a research note on Friday, December 22nd. Finally, Barclays cut shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and increased their price objective for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of Moderate Buy and an average price target of $604.69.

Thermo Fisher Scientific Stock Performance

TMO traded down $7.30 on Wednesday, hitting $547.25. 1,609,039 shares of the company's stock were exchanged, compared to its average volume of 1,540,204. The firm has a market cap of $208.89 billion, a PE ratio of 35.44, a P/E/G ratio of 2.34 and a beta of 0.80. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $603.82. The stock has a fifty day moving average of $571.67 and a two-hundred day moving average of $526.87. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, topping the consensus estimate of $5.64 by $0.03. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The firm had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. During the same quarter in the prior year, the business earned $5.40 earnings per share. Thermo Fisher Scientific's quarterly revenue was down 4.9% on a year-over-year basis. On average, research analysts anticipate that Thermo Fisher Scientific will post 21.52 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.10%.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 14,566 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Debora L. Spar sold 164 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the transaction, the director now owns 1,207 shares of the company's stock, valued at approximately $660,192.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 14,566 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares of the company's stock, valued at approximately $7,250,362. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,277 shares of company stock worth $28,513,384. Corporate insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. True Wealth Design LLC lifted its position 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 worth $29,000 after buying an additional 51 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. Live Oak Investment Partners bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $36,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $37,000. 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.