Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $670.00 at JPMorgan Chase & Co.

Thermo Fisher Scientific (NYSE:TMO) had its target price raised by JPMorgan Chase & Co. from $650.00 to $670.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other analysts have also weighed in on TMO. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating for the company in a research note on Friday, June 28th. 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 report on Monday, September 16th. Robert W. Baird upped their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an outperform rating in a research note on Thursday, July 25th. UBS Group upgraded shares of Thermo Fisher Scientific to a strong-buy rating in a research note on Monday, September 16th. Finally, Raymond James lifted their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific has an average rating of Moderate Buy and an average target price of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

NYSE:TMO opened at $613.69 on Friday. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $627.88. The company’s 50-day simple moving average is $599.56 and its 200 day simple moving average is $581.38. The firm has a market capitalization of $234.26 billion, a P/E ratio of 39.36, a PEG ratio of 2.86 and a beta of 0.78. 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 posted 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. 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 during the quarter, compared to analyst estimates of $10.50 billion. During the same quarter last year, the company earned $5.15 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC raised its position 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 during the period. True Wealth Design LLC lifted its stake in shares of 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 worth $29,000 after acquiring an additional 51 shares during the last quarter. New Millennium Group LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at $29,000. Stephens Consulting LLC increased its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific during the first quarter valued at $31,000. 89.23% of the stock is currently owned by hedge funds and other 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.