Thermo Fisher Scientific (NYSE:TMO) PT Raised to $650.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective boosted by Benchmark from $580.00 to $650.00 in a report released on Wednesday, The Fly reports. The firm currently has a buy rating on the medical research company’s stock.

A number of other equities analysts have also weighed in on TMO. Argus upped their target price on shares of Thermo Fisher Scientific from $530.00 to $600.00 and gave the stock a buy rating in a research note on Wednesday, August 4th. BTIG Research increased their price objective on shares of Thermo Fisher Scientific from $610.00 to $700.00 and gave the stock a buy rating in a research note on Wednesday. Robert W. Baird increased their price objective on shares of Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an outperform rating in a research note on Wednesday, June 23rd. SVB Leerink increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock an outperform rating in a research note on Monday, September 20th. Finally, Cowen increased their price objective on shares of Thermo Fisher Scientific from $525.00 to $560.00 and gave the stock an outperform rating in a research note on Thursday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $592.57.

Shares of NYSE TMO opened at $609.78 on Wednesday. The firm has a market cap of $239.90 billion, a PE ratio of 28.27, a PEG ratio of 1.33 and a beta of 0.74. The company has a current ratio of 2.78, a quick ratio of 2.11 and a debt-to-equity ratio of 0.51. Thermo Fisher Scientific has a 1-year low of $412.80 and a 1-year high of $616.93. The company has a fifty day moving average price of $554.00 and a 200 day moving average price of $501.70.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.51 by $0.09. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.75 billion. Thermo Fisher Scientific had a net margin of 22.47% and a return on equity of 29.43%. Equities research analysts forecast that Thermo Fisher Scientific will post 22.07 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $1.04 annualized dividend and a yield of 0.17%. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.

Thermo Fisher Scientific declared that its board has authorized a stock buyback plan on Thursday, September 23rd that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Jim P. Manzi sold 572 shares of the firm’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $536.54, for a total transaction of $306,900.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total transaction of $5,390,500.00. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MV Capital Management Inc. boosted its position in shares of Thermo Fisher Scientific by 577.8% during the 2nd quarter. MV Capital Management Inc. now owns 61 shares of the medical research company’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Roble Belko & Company Inc boosted its position in Thermo Fisher Scientific by 914.3% in the first quarter. Roble Belko & Company Inc now owns 71 shares of the medical research company’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Bedel Financial Consulting Inc. boosted its position in Thermo Fisher Scientific by 65.0% in the second quarter. Bedel Financial Consulting Inc. now owns 66 shares of the medical research company’s stock valued at $33,000 after buying an additional 26 shares in the last quarter. Lake Point Wealth Management acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $34,000. Finally, FFT Wealth Management LLC acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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