Evercore ISI Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $630.00

Thermo Fisher Scientific (NYSE:TMO) had its target price hoisted by research analysts at Evercore ISI from $605.00 to $630.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price objective points to a potential upside of 2.82% from the company’s current price.

TMO has been the topic of several other reports. Barclays reduced their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus upped their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Robert W. Baird raised their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $653.72.

Thermo Fisher Scientific Trading Down 0.0 %

Shares of Thermo Fisher Scientific stock opened at $612.72 on Tuesday. The firm has a market capitalization of $234.06 billion, a PE ratio of 39.30, a price-to-earnings-growth ratio of 3.90 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $609.50 and its 200 day moving average is $582.53. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.15 EPS. Equities research analysts forecast that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Several institutional investors have recently made changes to their positions in the company. Trust Co of the South bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth $296,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Thermo Fisher Scientific by 2.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 51,445 shares of the medical research company’s stock worth $31,822,000 after acquiring an additional 1,146 shares in the last quarter. Mattson Financial Services LLC bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $1,078,000. Centaurus Financial Inc. grew its stake in shares of Thermo Fisher Scientific by 3.3% in the 2nd quarter. Centaurus Financial Inc. now owns 6,283 shares of the medical research company’s stock worth $3,475,000 after acquiring an additional 201 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Thermo Fisher Scientific by 0.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 68,321 shares of the medical research company’s stock worth $37,782,000 after buying an additional 264 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

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.