Wells Fargo & Company Forecasts Strong Price Appreciation for Thermo Fisher Scientific (NYSE:TMO) Stock

Key Points

• Wells Fargo & Company has increased its price target for Thermo Fisher Scientific from $565.00 to $635.00, suggesting a potential upside of 10.47% from the previous closing price.
• A total of 17 analysts rated Thermo Fisher Scientific with a Buy rating, contributing to an average price target of $587.95.
• The company's quarterly earnings surpassed expectations with an EPS of $5.79, exceeding the consensus estimate by $0.29, and revenue reached $11.12 billion, above the forecasted $10.90 billion.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $565.00 to $635.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical research company's stock. Wells Fargo & Company's price target would suggest a potential upside of 10.47% from the company's previous close.

Other equities analysts have also issued reports about the stock. Barclays increased their price objective on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an "overweight" rating in a research report on Thursday. Leerink Partners increased their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday. Robert W. Baird raised their price target on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Thermo Fisher Scientific in a research report on Thursday. Finally, Evercore ISI raised their price target on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 7th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $587.95.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $574.80 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average price is $500.65 and its two-hundred day moving average price is $451.30. Thermo Fisher Scientific has a 1 year low of $385.46 and a 1 year high of $610.97. The firm has a market capitalization of $217.05 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 3.22 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.29. The firm had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $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 anticipate that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 385 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the sale, the chief accounting officer directly owned 2,319 shares in the company, valued at $1,142,408.97. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 400 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $500.50, for a total transaction of $200,200.00. Following the completion of the sale, the chief executive officer owned 113,762 shares in the company, valued at approximately $56,937,881. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,066 shares of company stock worth $14,182,963 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds have recently added to or reduced their stakes in TMO. CBIZ Investment Advisory Services LLC boosted 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 worth $28,000 after buying an additional 33 shares during the period. Highline Wealth Partners LLC boosted its position 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 worth $29,000 after buying an additional 33 shares during the period. Anderson Financial Strategies LLC acquired a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $30,000. Capital A Wealth Management LLC raised its holdings 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 worth $30,000 after purchasing an additional 66 shares during the last quarter. Finally, Keystone Global Partners LLC bought a new position in Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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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