Stifel Nicolaus Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $680.00

Thermo Fisher Scientific (NYSE:TMO) had its target price lifted by equities researchers at Stifel Nicolaus from $615.00 to $680.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 10.81% from the company’s current price.

A number of other brokerages have also recently commented on TMO. Raymond James increased their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI reduced their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $647.78.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $613.69 on Friday. The company has a 50 day moving average of $599.56 and a 200-day moving average of $581.45. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $234.26 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.15 EPS. As a group, equities research analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 in the last quarter. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors have recently made changes to their positions in the stock. Signature Resources Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. True Wealth Design LLC lifted its stake in shares of Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the period. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific during the second quarter worth approximately $29,000. Stephens Consulting LLC increased its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. bought a new position in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. Institutional investors own 89.23% of the company’s stock.

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.