Morgan Stanley Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $678.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective raised by equities research analysts at Morgan Stanley from $647.00 to $678.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price target would suggest a potential upside of 12.71% from the stock’s previous close.

Several other research firms have also recently issued reports on TMO. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI decreased their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Bernstein Bank boosted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $650.43.

Thermo Fisher Scientific Stock Up 5.9 %

Shares of NYSE:TMO opened at $601.55 on Friday. Thermo Fisher Scientific has a 1-year low of $493.30 and a 1-year high of $627.88. The company’s fifty day moving average is $539.66 and its two-hundred day moving average is $570.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a market capitalization of $230.09 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 3.89 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Equities analysts anticipate that Thermo Fisher Scientific will post 21.69 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 29,000 shares of company stock worth $15,859,540 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors have recently bought and sold shares of TMO. IFG Advisors LLC boosted its position in Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after purchasing an additional 17 shares during the period. Stonegate Investment Group LLC lifted its position in Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after acquiring an additional 18 shares during the last quarter. Trivant Custom Portfolio Group LLC grew its position in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after purchasing an additional 19 shares during the last quarter. Axiom Advisory LLC lifted its position in shares of Thermo Fisher Scientific by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after purchasing an additional 19 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 0.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after buying an additional 19 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

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.