Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $490.00 at Barclays

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price objective upped by investment analysts at Barclays from $450.00 to $490.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the medical research company's stock. Barclays's price target points to a potential upside of 1.71% from the stock's current price.

Several other analysts have also weighed in on TMO. Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. UBS Group downgraded shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and reduced their price target for the company from $500.00 to $460.00 in a report on Tuesday, July 8th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird upped their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $597.38.

Thermo Fisher Scientific Stock Up 3.2%

Shares of NYSE:TMO traded up $15.07 during midday trading on Thursday, reaching $481.78. The company had a trading volume of 3,270,102 shares, compared to its average volume of 2,478,075. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The stock's fifty day moving average price is $411.01 and its 200-day moving average price is $471.10. The stock has a market capitalization of $181.87 billion, a P/E ratio of 28.31, a PEG ratio of 2.06 and a beta of 0.77. Thermo Fisher Scientific has a one year low of $385.46 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the previous year, the firm earned $5.37 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Hedge funds have recently added to or reduced their stakes in the company. Cypress Advisory Group LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $253,000. GAMMA Investing LLC grew its holdings in Thermo Fisher Scientific by 22.0% during the first quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after purchasing an additional 877 shares during the last quarter. Deutsche Bank AG grew its holdings in Thermo Fisher Scientific by 9.5% during the fourth quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock valued at $687,553,000 after purchasing an additional 114,277 shares during the last quarter. Hancock Whitney Corp grew its holdings in Thermo Fisher Scientific by 0.6% during the fourth quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock valued at $2,802,000 after purchasing an additional 30 shares during the last quarter. Finally, Cetera Trust Company N.A grew its holdings in Thermo Fisher Scientific by 3.3% during the first quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock valued at $2,312,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

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.

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