Thermo Fisher Scientific (NYSE:TMO) had its price target increased by Bank of America from $235.00 to $250.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the medical research company’s stock. Bank of America’s target price suggests a potential upside of 13.20% from the company’s previous close.
Several other equities analysts have also weighed in on TMO. Barclays lifted their price objective on Thermo Fisher Scientific from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Thursday. Leerink Swann reaffirmed an “outperform” rating and issued a $239.00 price objective (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Thursday. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $223.00 to $227.00 and gave the company an “overweight” rating in a research note on Thursday. BTIG Research assumed coverage on Thermo Fisher Scientific in a research note on Friday, January 5th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Zacks Investment Research raised Thermo Fisher Scientific from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average target price of $220.50.
Thermo Fisher Scientific (NYSE TMO) traded down $3.27 during midday trading on Thursday, hitting $220.84. The stock had a trading volume of 1,105,240 shares, compared to its average volume of 1,561,144. The firm has a market cap of $89,400.00, a price-to-earnings ratio of 39.48, a P/E/G ratio of 1.74 and a beta of 1.06. Thermo Fisher Scientific has a fifty-two week low of $150.23 and a fifty-two week high of $226.44. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.85.
In related news, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $191.74, for a total transaction of $9,587,000.00. Following the transaction, the chief executive officer now directly owns 302,577 shares of the company’s stock, valued at approximately $58,016,113.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia Trust Co. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $106,000. Ropes Wealth Advisors LLC raised its position in shares of Thermo Fisher Scientific by 15.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 97 shares in the last quarter. Atlantic Trust LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $138,000. Acrospire Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 400 shares in the last quarter. Finally, Glassman Wealth Services raised its position in shares of Thermo Fisher Scientific by 23.1% in the 2nd quarter. Glassman Wealth Services now owns 1,039 shares of the medical research company’s stock valued at $181,000 after purchasing an additional 195 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
