Thermo Fisher Scientific (NYSE:TMO) Reaches New 1-Year High – What’s Next?

Thermo Fisher Scientific Inc. (NYSE:TMO) reached a new 52-week high on Wednesday. The company traded as high as $712.17 and last traded at $696.63, with a volume of 252,012 shares. The stock had previously closed at $698.34.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TMO shares. Argus upped their price objective on Thermo Fisher Scientific from $560.00 to $780.00 and gave the company a “buy” rating in a research report on Friday. CLSA started coverage on Thermo Fisher Scientific in a research report on Thursday, September 3rd. They set an “outperform” rating and a C$748.00 price objective for the company. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Jefferies Financial Group restated a “buy” rating and issued a $630.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $720.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $689.10.

Thermo Fisher Scientific Price Performance

The company’s 50-day moving average is $657.33 and its 200-day moving average is $553.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.81 and a quick ratio of 1.41. The firm has a market capitalization of $257.72 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.78 and a beta of 0.84.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.40 by $0.28. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the previous year, the firm earned $5.79 earnings per share. Thermo Fisher Scientific’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 25.26 earnings per share for the current year.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 420 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $584.81, for a total transaction of $245,620.20. Following the completion of the sale, the chief accounting officer directly owned 2,966 shares in the company, valued at $1,734,546.46. This represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Lisa P. Britt sold 11,440 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total value of $7,014,092.80. Following the sale, the vice president owned 14,784 shares of the company’s stock, valued at $9,064,366.08. This represents a 43.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 76,199 shares of company stock valued at $45,896,780. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth $15,501,867,000. Bank of New York Mellon Corp purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $1,974,561,000. Bank of America Corp DE acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $1,952,930,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,472,524 shares of the medical research company’s stock valued at $1,239,625,000 after acquiring an additional 22,827 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $1,122,351,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.