Thermo Fisher Scientific (NYSE:TMO) Earns “Outperform” Rating from Raymond James

Raymond James reissued their outperform rating on shares of Thermo Fisher Scientific (NYSE:TMOFree Report) in a report published on Monday,Benzinga reports. Raymond James currently has a $667.00 price objective on the medical research company’s stock, up from their previous price objective of $650.00.

Several other research analysts have also recently weighed in on TMO. Barclays reduced their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada cut their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen raised their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Read Our Latest Analysis on Thermo Fisher Scientific

Thermo Fisher Scientific Trading Down 0.7 %

Shares of TMO opened at $593.38 on Monday. The firm has a market capitalization of $226.97 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $541.37 and its 200-day simple moving average is $571.18.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, research analysts predict that Thermo Fisher Scientific will post 23.29 earnings per share for the current year.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.44%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 29,000 shares of company stock valued at $15,859,540. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TMO. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific during the third quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $27,000. Barrett & Company Inc. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $28,000. Missouri Trust & Investment Co purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in Thermo Fisher Scientific in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.