Robert W. Baird Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $632.00

Thermo Fisher Scientific (NYSE:TMO) had its target price hoisted by analysts at Robert W. Baird from $620.00 to $632.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective indicates a potential upside of 4.09% from the company’s current price.

Other research analysts have also issued reports about the stock. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Jefferies Financial Group reiterated a “buy” rating and set a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Finally, HSBC raised their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $618.94.

Thermo Fisher Scientific Trading Up 2.1 %

Shares of TMO stock opened at $607.14 on Thursday. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $614.65. The company’s fifty day simple moving average is $563.01 and its two-hundred day simple moving average is $565.65. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.33. The stock has a market capitalization of $231.76 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 2.68 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the company posted $5.15 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that Thermo Fisher Scientific will post 21.64 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several hedge funds have recently made changes to their positions in TMO. Signature Resources Capital Management LLC raised its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Northwest Financial Advisors purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $29,000. True Wealth Design LLC boosted its position in Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Finally, LifeSteps Financial Inc. purchased a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $31,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.