Thermo Fisher Scientific (NYSE:TMO) Earns Sector Perform Rating from Analysts at Scotiabank

Equities research analysts at Scotiabank assumed coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a research report issued on Monday. The firm set a “sector perform” rating on the medical research company’s stock.

A number of other equities analysts also recently issued reports on the company. Bernstein Bank raised their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Stephens began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $652.30.

Thermo Fisher Scientific Stock Up 1.4 %

Shares of Thermo Fisher Scientific stock opened at $524.05 on Monday. The company has a 50-day simple moving average of $543.04 and a two-hundred day simple moving average of $572.17. The stock has a market capitalization of $200.45 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. Thermo Fisher Scientific has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the business earned $5.69 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, analysts anticipate that Thermo Fisher Scientific will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a share buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock valued at $25,954,465 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares during the last quarter. FMR LLC grew its stake in shares of Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Thermo Fisher Scientific during the 3rd quarter valued at $254,412,000. Finally, Point72 Asset Management L.P. grew its position in Thermo Fisher Scientific by 743.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after acquiring an additional 296,646 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.