Citigroup Issues Positive Forecast for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO) had its price objective hoisted by Citigroup from $600.00 to $650.00 in a research report released on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the medical research company’s stock.

TMO has been the topic of a number of other research reports. UBS Group lifted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Scotiabank initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 target price on the stock. Finally, Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $655.64.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $598.40 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $228.89 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 3.89 and a beta of 0.76. The business’s 50-day moving average price is $541.37 and its 200 day moving average price is $570.96. Thermo Fisher Scientific has a twelve month low of $493.30 and a twelve month high of $627.88.

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

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

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 29,000 shares of company stock worth $15,859,540 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several institutional investors and hedge funds have recently bought and sold shares of TMO. IFG Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares during the last quarter. Stonegate Investment Group LLC grew its stake 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 buying an additional 18 shares during the last quarter. Semus Wealth Partners LLC increased its position in Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares during the period. Trivant Custom Portfolio Group LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.4% during 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 acquiring an additional 19 shares during the period. Finally, Axiom Advisory LLC grew its position in shares of Thermo Fisher Scientific by 1.6% during the third quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.