Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $580.00

Thermo Fisher Scientific (NYSE:TMO) had its target price hoisted by Leerink Partners from $545.00 to $580.00 in a research report report published on Wednesday, Marketbeat reports. They currently have an outperform rating on the medical research company’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Tuesday, October 14th. HSBC restated a “hold” rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Robert W. Baird raised their price objective on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $595.75.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $573.07 on Wednesday. The business’s 50-day moving average price is $504.04 and its 200 day moving average price is $453.30. The firm has a market cap of $216.40 billion, a P/E ratio of 33.11, a PEG ratio of 3.24 and a beta of 0.77. Thermo Fisher Scientific has a 52-week low of $385.46 and a 52-week high of $610.97. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The business had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. During the same quarter last year, the company posted $5.28 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 4.9% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, sell-side analysts predict that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $500.96, for a total value of $5,009,600.00. Following the transaction, the chief executive officer directly owned 115,174 shares of the company’s stock, valued at approximately $57,697,567.04. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $492.63, for a total value of $189,662.55. Following the completion of the transaction, the chief accounting officer directly owned 2,319 shares in the company, valued at approximately $1,142,408.97. This represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,666 shares of company stock worth $13,990,971 over the last three months. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CBIZ Investment Advisory Services LLC grew its holdings in shares of 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 purchasing an additional 33 shares in the last quarter. Highline Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in Thermo Fisher Scientific in the 1st quarter valued at $30,000. Keystone Global Partners LLC acquired a new stake in Thermo Fisher Scientific in the 1st quarter valued at $31,000. Finally, IMA Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific in the 1st quarter valued at $35,000. 89.23% of the stock is owned by 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.