HSBC Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $670.00

Thermo Fisher Scientific (NYSE:TMO - Free Report) had its price target raised by HSBC from $660.00 to $670.00 in a report released on Tuesday, Benzinga reports. HSBC currently has a buy rating on the medical research company's stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Sanford C. Bernstein reiterated a market perform rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Finally, Barclays lifted their price objective on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an equal weight rating in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $607.35.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $8.15 during trading on Tuesday, hitting $568.74. 1,514,866 shares of the stock were exchanged, compared to its average volume of 1,554,109. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The company has a market capitalization of $217.09 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. The company's fifty day simple moving average is $574.58 and its 200-day simple moving average is $531.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. Sell-side analysts expect that Thermo Fisher Scientific will post 21.56 EPS 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. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. 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 payout ratio is presently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company's stock, valued at $74,039,491.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company's stock, valued at $74,039,491.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the company's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares of the company's stock, valued at $7,430,359.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,277 shares of company stock valued at $29,649,264. Company insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Thermo Fisher Scientific during the fourth quarter worth about $2,909,524,000. International Assets Investment Management LLC raised its holdings in Thermo Fisher Scientific by 61,995.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company's stock worth $535,923,000 after acquiring an additional 1,008,045 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Thermo Fisher Scientific by 17,046.7% during the third quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company's stock worth $492,803,000 after acquiring an additional 967,913 shares in the last quarter. Veritas Asset Management LLP raised its holdings in Thermo Fisher Scientific by 70.1% during the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company's stock worth $898,175,000 after acquiring an additional 697,383 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new stake in Thermo Fisher Scientific during the fourth quarter worth about $333,786,000. 89.23% of the stock is 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.