Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $670.00

Thermo Fisher Scientific (NYSE:TMO) had its target price increased by Morgan Stanley from $656.00 to $670.00 in a report published on Tuesday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the medical research company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $561.00 target price on shares of Thermo Fisher Scientific and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Evercore ISI raised their price objective on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Tuesday, October 14th. Citigroup lifted their price objective on Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, UBS Group increased their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $602.35.

Thermo Fisher Scientific Trading Down 1.0%

TMO stock opened at $574.76 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm has a market cap of $215.94 billion, a P/E ratio of 33.20, a P/E/G ratio of 4.24 and a beta of 0.90. Thermo Fisher Scientific has a 1-year low of $385.46 and a 1-year high of $610.97. The business’s 50 day moving average is $557.53 and its 200-day moving average is $483.90.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating the consensus estimate of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.Thermo Fisher Scientific’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities analysts anticipate that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.94%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $566.10, for a total value of $4,104,225.00. Following the transaction, the chief executive officer owned 113,762 shares of the company’s stock, valued at $64,400,668.20. This represents a 5.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 127,225 shares of company stock worth $74,083,038. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of large investors have recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted its holdings in Thermo Fisher Scientific by 137.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after purchasing an additional 33 shares during the last quarter. JPL Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in Thermo Fisher Scientific during the first quarter worth about $30,000. Finally, Capital A Wealth Management LLC grew its stake in Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in 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.