Thermo Fisher Scientific (NYSE:TMO) Given New $670.00 Price Target at HSBC

Thermo Fisher Scientific (NYSE:TMO) had its price target raised by HSBC from $660.00 to $670.00 in a report released on Tuesday, Benzinga reports. HSBC currently has a buy rating on the medical research company’s stock.

Several other analysts also recently weighed in on the company. Barclays boosted their price objective on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an equal weight rating in a research report on Thursday, April 25th. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They issued a neutral rating and a $620.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Raymond James increased their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of Moderate Buy and a consensus target price of $607.35.

Thermo Fisher Scientific Trading Down 1.4 %

TMO stock opened at $568.74 on Tuesday. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $603.82. The company has a market capitalization of $217.09 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. The company’s 50 day moving average price is $574.58 and its two-hundred day moving average price is $531.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. As a group, analysts predict that Thermo Fisher Scientific will post 21.56 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insiders Place Their Bets

In other news, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the transaction, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,277 shares of company stock worth $29,649,264. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors have recently added to or reduced their stakes in TMO. Sugarloaf Wealth Management LLC raised its position in Thermo Fisher Scientific by 6.9% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 294 shares of the medical research company’s stock worth $156,000 after buying an additional 19 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Thermo Fisher Scientific by 3.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 526 shares of the medical research company’s stock valued at $279,000 after purchasing an additional 19 shares during the period. Tsfg LLC grew its position in Thermo Fisher Scientific by 8.3% in the 4th quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock worth $132,000 after purchasing an additional 19 shares during the period. Pacifica Partners Inc. raised its stake in Thermo Fisher Scientific by 16.5% during the 4th quarter. Pacifica Partners Inc. now owns 141 shares of the medical research company’s stock valued at $69,000 after buying an additional 20 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Thermo Fisher Scientific by 1.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,069 shares of the medical research company’s stock worth $591,000 after buying an additional 20 shares during the last quarter. 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.