Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $580.00 at Leerink Partners

Key Points

• Thermo Fisher Scientific's price target was increased from $545.00 to $580.00 by Leerink Partners, with an "outperform" rating indicating potential upside of 2.04% from the current price.
• The company reported $5.79 earnings per share for the quarter, surpassing analysts' expectations of $5.50, and had a revenue of $11.12 billion against a forecast of $10.90 billion.
• Institutional investors own 89.23% of Thermo Fisher Scientific's stock, indicating strong institutional support and confidence in the company's performance.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price objective raised by stock analysts at Leerink Partners from $545.00 to $580.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical research company's stock. Leerink Partners' target price suggests a potential upside of 2.04% from the company's current price.

TMO has been the topic of several other research reports. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. William Blair assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, August 18th. They issued an "outperform" rating on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Thermo Fisher Scientific in a research report on Tuesday, October 14th. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective for the company in a research note on Friday, July 11th. Finally, HSBC reiterated a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $581.63.

Thermo Fisher Scientific Trading Up 1.9%

Shares of NYSE:TMO traded up $10.43 during midday trading on Wednesday, hitting $568.42. 3,456,012 shares of the stock traded hands, compared to its average volume of 2,422,031. The stock has a market capitalization of $214.64 billion, a PE ratio of 32.88, a P/E/G ratio of 3.14 and a beta of 0.77. The business's 50 day moving average is $499.00 and its two-hundred day moving average is $450.49. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific has a one year low of $385.46 and a one year high of $610.97.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping analysts' consensus estimates of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to analysts' expectations of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, research analysts forecast that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $500.96, for a total transaction of $5,009,600.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at approximately $57,697,567.04. The trade was a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the sale, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 30,066 shares of company stock valued at $14,182,963. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several large investors have recently modified their holdings of the business. CBIZ Investment Advisory Services LLC increased its stake in Thermo Fisher Scientific by 137.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company's stock valued at $28,000 after purchasing an additional 33 shares in the last quarter. Highline Wealth Partners LLC increased its stake in Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company's stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter valued at approximately $30,000. Capital A Wealth Management LLC increased its stake in Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company's stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Finally, Keystone Global Partners LLC purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at $31,000. Institutional investors 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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