Thermo Fisher Scientific (NYSE:TMO) Reaches New 1-Year High - What's Next?

Key Points

• Thermo Fisher shares reached a 52-week high of $712.17 in Wednesday trading, before trading at $696.63.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating, with several firms setting price targets of $800–$810. The consensus target is $689.10.
• Quarterly results beat expectations: adjusted earnings were $6.68 per share versus a $6.40 estimate, while revenue of $12.14 billion rose 9.1% year over year.

Shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $712.17 and last traded at $696.63, with a volume of 252,012 shares. The stock had previously closed at $698.34.

Analyst Upgrades and Downgrades

TMO has been the subject of several analyst reports. HSBC upgraded Thermo Fisher Scientific from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 1st. TD Cowen upped their target price on Thermo Fisher Scientific from $760.00 to $810.00 and gave the company a "buy" rating in a research report on Thursday, October 22nd. Piper Sandler started coverage on Thermo Fisher Scientific in a research note on Wednesday, September 9th. They issued an "overweight" rating for the company. Citigroup raised their price target on Thermo Fisher Scientific from $685.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, October 23rd. Finally, UBS Group restated a "buy" rating and set a $800.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $689.10.

Thermo Fisher Scientific Stock Down 0.4%

The company's 50 day moving average price is $657.33 and its 200 day moving average price is $553.71. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $257.72 billion, a price-to-earnings ratio of 36.61, a P/E/G ratio of 2.78 and a beta of 0.84.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 earnings per share for the quarter, beating analysts' consensus estimates of $6.40 by $0.28. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $5.79 earnings per share. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 25.26 earnings per share for the current fiscal year.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 275 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $627.05, for a total transaction of $172,438.75. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares of the company's stock, valued at approximately $77,707,171.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Joseph R. Holmes sold 420 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $584.81, for a total transaction of $245,620.20. Following the sale, the chief accounting officer owned 2,966 shares of the company's stock, valued at approximately $1,734,546.46. The trade was a 12.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 76,199 shares of company stock worth $45,896,780. 0.33% of the stock is owned by company insiders.

Institutional Trading of Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $15,501,867,000. Corient Private Wealth LP purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $382,547,000. Bank of New York Mellon Corp acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $1,974,561,000. Bank of America Corp DE acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $1,952,930,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Thermo Fisher Scientific by 0.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,472,524 shares of the medical research company's stock valued at $1,239,625,000 after buying an additional 22,827 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.

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