Thermo Fisher Scientific (NYSE:TMO) Given New $625.00 Price Target at Bernstein Bank

Thermo Fisher Scientific (NYSE:TMO) had its price target hoisted by analysts at Bernstein Bank from $565.00 to $625.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “market perform” rating on the medical research company’s stock. Bernstein Bank’s price objective points to a potential upside of 6.52% from the stock’s previous close.

A number of other brokerages have also recently issued reports on TMO. Bank of America increased their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Raymond James upped their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price target for the company. Finally, Barclays raised their price objective on Thermo Fisher Scientific from $600.00 to $620.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $656.00.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded down $8.61 during midday trading on Tuesday, reaching $586.76. 719,888 shares of the stock were exchanged, compared to its average volume of 1,460,397. The business’s 50-day moving average price is $607.91 and its 200 day moving average price is $584.40. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a market capitalization of $224.14 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 3.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.15 EPS. On average, sell-side analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Thermo Fisher Scientific

Hedge funds and other institutional investors have recently modified their holdings of the stock. CFM Wealth Partners LLC bought a new position in Thermo Fisher Scientific during the 1st quarter worth $216,000. Elevated Capital Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 6.2% during the 1st quarter. Elevated Capital Advisors LLC now owns 1,372 shares of the medical research company’s stock valued at $797,000 after acquiring an additional 80 shares in the last quarter. Brookstone Capital Management grew its holdings in Thermo Fisher Scientific by 252.4% during the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after acquiring an additional 3,142 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Thermo Fisher Scientific by 14.6% during the 1st quarter. Revolve Wealth Partners LLC now owns 433 shares of the medical research company’s stock worth $251,000 after purchasing an additional 55 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in Thermo Fisher Scientific by 359.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 5,334 shares of the medical research company’s stock worth $3,100,000 after buying an additional 4,172 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.