Raymond James Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $660.00

Thermo Fisher Scientific (NYSE:TMO) had its price target raised by equities researchers at Raymond James from $650.00 to $660.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Raymond James’ target price would indicate a potential upside of 9.71% from the stock’s previous close.

TMO has been the subject of a number of other reports. The Goldman Sachs Group upped their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Stifel Nicolaus upped their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Royal Bank of Canada raised their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $616.50.

Thermo Fisher Scientific Trading Up 4.7 %

Shares of TMO stock traded up $26.86 during trading hours on Thursday, reaching $601.59. 2,244,190 shares of the stock were exchanged, compared to its average volume of 1,546,721. The firm has a market capitalization of $229.64 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The company’s 50-day moving average price is $562.82 and its 200-day moving average price is $564.99. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.15 earnings per share. As a group, equities analysts anticipate that Thermo Fisher Scientific will post 21.63 earnings per share for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,873,516.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,000 shares of company stock valued at $12,532,780. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TMO. Signature Resources Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Northwest Financial Advisors acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its stake in Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the period. LifeSteps Financial Inc. purchased a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at $31,000. Finally, Headlands Technologies LLC acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at $32,000. 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.