Thermo Fisher Scientific (NYSE:TMO – Get Free Report) had its target price raised by research analysts at Barclays from $600.00 to $620.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target suggests a potential upside of 3.04% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Evercore ISI lifted their price target on Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective on the stock. Bank of America upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. TD Cowen increased their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Raymond James upped their target price on 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 investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $656.16.
Get Our Latest Research Report on Thermo Fisher Scientific
Thermo Fisher Scientific Price Performance
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its quarterly earnings results 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. 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%. Thermo Fisher Scientific’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.15 EPS. Research analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current fiscal year.
Insider Buying and Selling at Thermo Fisher Scientific
In related news, 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $74,548,375.44. The trade was a 0.00 % decrease in their position. 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. Company insiders own 0.34% of the company’s stock.
Hedge Funds Weigh In On Thermo Fisher Scientific
Hedge funds have recently modified their holdings of the stock. Capital World Investors grew its stake in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after buying an additional 1,231,059 shares during the last quarter. Swedbank AB bought a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Ameriprise Financial Inc. boosted its stake in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after buying an additional 296,646 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Thermo Fisher Scientific by 31.9% during the second quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock worth $565,316,000 after purchasing an additional 247,110 shares during the period. Institutional investors own 89.23% of the company’s stock.
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.
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