Thermo Fisher Scientific (NYSE:TMO) Upgraded to "Sector Outperform" at Scotiabank

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) was upgraded by Scotiabank from a "sector perform" rating to a "sector outperform" rating in a research report issued on Friday, Marketbeat Ratings reports. The brokerage presently has a $590.00 price objective on the medical research company's stock. Scotiabank's price objective points to a potential upside of 35.63% from the company's current price.

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Barclays dropped their target price on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. Argus dropped their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $600.30.

Thermo Fisher Scientific Price Performance

TMO traded up $4.29 on Friday, hitting $435.02. 2,511,384 shares of the company's stock traded hands, compared to its average volume of 1,995,412. The company's 50 day simple moving average is $409.16 and its 200-day simple moving average is $477.24. The firm has a market cap of $164.22 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 2.29 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. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $5.11 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president directly owned 23,167 shares of the company's stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Hedge funds have recently made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position 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 buying an additional 33 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. Anderson Financial Strategies LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter valued at about $30,000. Finally, Keystone Global Partners LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter valued at about $31,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.