The Goldman Sachs Group Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $640.00

Thermo Fisher Scientific (NYSE:TMOFree Report) had its target price increased by The Goldman Sachs Group from $550.00 to $640.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

A number of other equities analysts have also issued reports on the company. Robert W. Baird reissued an outperform rating and issued a $670.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, December 14th. Barclays lowered Thermo Fisher Scientific from an overweight rating to an equal weight rating and increased their price target for the company from $475.00 to $555.00 in a research note on Wednesday, January 24th. TheStreet raised Thermo Fisher Scientific from a c+ rating to a b- rating in a research note on Friday, December 22nd. Sanford C. Bernstein reaffirmed a market perform rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Finally, Wolfe Research initiated coverage on Thermo Fisher Scientific in a research note on Wednesday, December 13th. They set an outperform rating and a $575.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $601.56.

Read Our Latest Stock Analysis on TMO

Thermo Fisher Scientific Stock Down 1.6 %

Shares of Thermo Fisher Scientific stock opened at $565.23 on Wednesday. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $603.82. The stock has a market capitalization of $215.75 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.41 and a beta of 0.80. The business’s 50 day simple moving average is $571.66 and its 200-day simple moving average is $525.78. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.64 by $0.03. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The business had revenue of $10.89 billion during the quarter, compared to analyst estimates of $10.73 billion. During the same period in the prior year, the company posted $5.40 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific will post 21.52 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is presently 10.10%.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock worth $28,513,384 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Hedge funds and other institutional investors have recently modified their holdings of the company. Phoenix Holdings Ltd. raised its holdings in shares of Thermo Fisher Scientific by 21.4% during the third quarter. Phoenix Holdings Ltd. now owns 9,366 shares of the medical research company’s stock worth $4,750,000 after acquiring an additional 1,654 shares in the last quarter. DMC Group LLC raised its holdings in Thermo Fisher Scientific by 16.5% during the third quarter. DMC Group LLC now owns 592 shares of the medical research company’s stock valued at $300,000 after buying an additional 84 shares in the last quarter. Montchanin Asset Management LLC raised its holdings in Thermo Fisher Scientific by 1.1% during the second quarter. Montchanin Asset Management LLC now owns 4,550 shares of the medical research company’s stock valued at $2,374,000 after buying an additional 50 shares in the last quarter. Check Capital Management Inc. CA bought a new position in Thermo Fisher Scientific during the third quarter valued at about $219,000. Finally, Tsfg LLC raised its holdings in Thermo Fisher Scientific by 8.3% during the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after buying an additional 19 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Company Profile

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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.

Further Reading

Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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