Thermo Fisher Scientific's (TMO) Hold Rating Reaffirmed at HSBC

Thermo Fisher Scientific (NYSE:TMO - Get Free Report)'s stock had its "hold" rating reissued by stock analysts at HSBC in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a $510.00 price objective on the medical research company's stock. HSBC's price target indicates a potential upside of 5.86% from the stock's previous close.

Several other research firms also recently weighed in on TMO. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. UBS Group lowered Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and decreased their target price for the company from $500.00 to $460.00 in a research report on Tuesday, July 8th. Stifel Nicolaus cut their price target on 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. Argus cut their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Barclays boosted their target price on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $597.38.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded up $15.07 during midday trading on Thursday, hitting $481.78. 3,270,102 shares of the company were exchanged, 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 firm has a market cap 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 52 week low of $385.46 and a 52 week high of $627.88. The firm has a 50 day simple moving average of $411.01 and a 200-day simple moving average of $471.10.

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

Insider Activity

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 shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Institutional investors and hedge funds have recently bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after acquiring an additional 20 shares during the period. Port Capital LLC raised its position in shares of Thermo Fisher Scientific by 1.6% during the 4th quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock valued at $721,000 after buying an additional 22 shares during the period. Clark Capital Management Group Inc. raised its position in Thermo Fisher Scientific by 0.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock valued at $2,312,000 after purchasing an additional 23 shares during the period. Monograph Wealth Advisors LLC increased its holdings in Thermo Fisher Scientific by 0.3% in the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock valued at $4,507,000 after buying an additional 23 shares during the last quarter. Finally, Intergy Private Wealth LLC increased its holdings in Thermo Fisher Scientific by 5.8% in the first quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock valued at $208,000 after buying an additional 23 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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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