Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $567.00 at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price target upped by research analysts at Robert W. Baird from $553.00 to $567.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the medical research company's stock. Robert W. Baird's price objective suggests a potential upside of 18.16% from the stock's previous close.

Several other analysts have also recently commented on TMO. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Argus decreased their target price on shares of 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. Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, UBS Group cut shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and dropped their target price for the company from $500.00 to $460.00 in a research report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average target price of $597.38.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $13.14 during midday trading on Thursday, reaching $479.85. The company had a trading volume of 3,642,947 shares, compared to its average volume of 2,480,800. The stock has a 50 day moving average price of $411.01 and a 200 day moving average price of $471.10. The firm has a market capitalization of $181.14 billion, a PE ratio of 28.14, a P/E/G ratio of 2.06 and a beta of 0.77. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a fifty-two week low of $385.46 and a fifty-two week high of $627.88.

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

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction 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 sale, the executive vice president owned 23,167 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $3,149,754,000. GAMMA Investing LLC grew its holdings in shares of Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Thermo Fisher Scientific by 86.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after buying an additional 1,433,444 shares in the last quarter. Nuveen LLC acquired a new stake in Thermo Fisher Scientific during the first quarter valued at $532,360,000. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after buying an additional 858,193 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other 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.

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