Analysts Set Thermo Fisher Scientific Inc. (NYSE:TMO) Target Price at $593.00

Key Points

• Thermo Fisher Scientific Inc. has a consensus recommendation of Moderate Buy from 21 research firms, with a target price averaging $593.00.
• The company reported quarterly earnings of $5.36 per share, exceeding analysts' expectations, and had a revenue of $10.86 billion for the quarter.
• Recently, CEO Marc N. Casper sold 10,000 shares at an average price of $451.82, representing a 7.99% decrease in his ownership.

Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-one research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $593.00.

TMO has been the subject of a number of recent analyst reports. Argus lowered their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Hsbc Global Res cut Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a research note on Friday, July 11th. Finally, The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd.

Thermo Fisher Scientific Price Performance

TMO stock traded up $4.92 during midday trading on Friday, hitting $489.96. 2,462,453 shares of the stock were exchanged, compared to its average volume of 3,069,315. The stock's 50-day moving average price is $434.83 and its 200-day moving average price is $460.05. The stock has a market cap of $185.01 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 2.61 and a beta of 0.74. Thermo Fisher Scientific has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same period in the previous year, the firm posted $5.37 earnings per share. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts predict that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is 9.95%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total transaction of $4,518,200.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at approximately $52,037,916.68. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares of the company's stock, valued at $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,400 shares of company stock valued at $8,345,792 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors have recently made changes to their positions in TMO. Bernard Wealth Management Corp. bought a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC grew its holdings in Thermo Fisher Scientific by 137.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company's stock worth $28,000 after buying an additional 33 shares in the last quarter. Ameriflex Group Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. Anderson Financial Strategies LLC bought a new position in Thermo Fisher Scientific in the 1st quarter worth approximately $30,000. Finally, Keystone Global Partners LLC bought a new position in Thermo Fisher Scientific in the 1st quarter worth approximately $31,000. 89.23% of the stock is owned by institutional investors.

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.