Thermo Fisher Scientific (NYSE:TMO) Coverage Initiated at Stephens

Stephens assumed coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a report released on Tuesday, Marketbeat.com reports. The firm issued an overweight rating and a $680.00 target price on the medical research company’s stock.

Other equities research analysts have also issued reports about the stock. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a research report on Friday, June 28th. Royal Bank of Canada reiterated an outperform rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a buy rating in a research note on Monday, September 16th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an overweight rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group reissued a buy rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $653.72.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $598.61 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The firm’s fifty day simple moving average is $609.46 and its 200-day simple moving average is $582.78. The stock has a market cap of $228.67 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 3.88 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results 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. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $5.15 EPS. Analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the company’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 directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the last quarter. LifeSteps Financial Inc. purchased a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC grew its position in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. Hedge funds and other 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.