Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $660.00 at HSBC

Thermo Fisher Scientific (NYSE:TMO) had its price objective increased by HSBC from $630.00 to $660.00 in a research note published on Wednesday, Benzinga reports. HSBC currently has a buy rating on the medical research company’s stock.

TMO has been the topic of a number of other research reports. Evercore ISI raised their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Royal Bank of Canada raised their target price on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research report on Thursday, February 1st. TheStreet upgraded shares of Thermo Fisher Scientific from a c+ rating to a b- rating in a research report on Friday, December 22nd. Finally, Barclays lowered shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and lifted their price target for the stock from $475.00 to $555.00 in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $604.69.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $547.25 on Wednesday. The company’s 50 day simple moving average is $571.57 and its 200 day simple moving average is $527.01. The stock has a market capitalization of $208.89 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 1.39. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.64 by $0.03. The business had revenue of $10.89 billion for the quarter, compared to analysts’ expectations of $10.73 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $5.40 earnings per share. As a group, research analysts predict that Thermo Fisher Scientific will post 21.52 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is 10.10%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,277 shares of company stock valued at $28,513,384. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in TMO. Savant Capital LLC grew its position in Thermo Fisher Scientific by 0.5% in the 4th quarter. Savant Capital LLC now owns 3,627 shares of the medical research company’s stock worth $1,997,000 after purchasing an additional 18 shares in the last quarter. Sugarloaf Wealth Management LLC grew its position in Thermo Fisher Scientific by 6.9% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 294 shares of the medical research company’s stock worth $156,000 after purchasing an additional 19 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in Thermo Fisher Scientific by 3.7% in the 4th quarter. Rosenberg Matthew Hamilton now owns 526 shares of the medical research company’s stock worth $279,000 after purchasing an additional 19 shares in the last quarter. Tsfg LLC grew its position in Thermo Fisher Scientific by 8.3% in the 4th quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock worth $132,000 after purchasing an additional 19 shares in the last quarter. Finally, 1776 Wealth LLC grew its position in Thermo Fisher Scientific by 2.4% in the 4th quarter. 1776 Wealth LLC now owns 799 shares of the medical research company’s stock worth $440,000 after purchasing an additional 19 shares in the last quarter. 89.23% of the stock is 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.