Thermo Fisher Scientific’s (TMO) Outperform Rating Reiterated at Raymond James

Raymond James reiterated their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a report released on Monday,Benzinga reports. They currently have a $667.00 price target on the medical research company’s stock, up from their previous price target of $650.00.

Other analysts also recently issued reports about the stock. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Scotiabank initiated coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price objective on the stock. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Stock Up 0.2 %

TMO opened at $581.72 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific has a one year low of $493.30 and a one year high of $627.88. The firm has a market capitalization of $222.51 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 4.06 and a beta of 0.77. The company has a fifty day moving average price of $544.31 and a 200-day moving average price of $571.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly 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 return on equity of 17.51% and a net margin of 14.78%. Equities research analysts expect that Thermo Fisher Scientific will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has initiated a share buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,125 shares of company stock worth $16,207,439 over the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the third quarter worth approximately $27,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at about $28,000. Finally, Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Institutional investors 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.