Morgan Stanley Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $670.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective hoisted by stock analysts at Morgan Stanley from $656.00 to $670.00 in a report released on Tuesday, Marketbeat reports. The firm currently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price target indicates a potential upside of 15.40% from the company’s previous close.

A number of other research firms also recently weighed in on TMO. UBS Group raised their target price on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. William Blair initiated coverage on Thermo Fisher Scientific in a report on Monday, August 18th. They issued an “outperform” rating for the company. Barclays upped their target price on Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Evercore ISI upped their price objective on Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $602.35.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $580.61 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The firm has a market cap of $218.14 billion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 4.28 and a beta of 0.90. The stock’s 50-day moving average is $555.23 and its 200-day moving average is $483.27. Thermo Fisher Scientific has a one year low of $385.46 and a one year high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. During the same quarter last year, the firm earned $5.28 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities analysts predict that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 17,104 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $573.54, for a total value of $9,809,828.16. Following the transaction, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at $65,247,057.48. This represents a 13.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michel Lagarde sold 4,638 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $594.42, for a total value of $2,756,919.96. Following the completion of the transaction, the chief operating officer directly owned 23,480 shares in the company, valued at $13,956,981.60. The trade was a 16.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,625 shares of company stock worth $38,157,158 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Network Inc. raised its position in Thermo Fisher Scientific by 3.7% in the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after buying an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after acquiring an additional 19 shares during the last quarter. White Pine Capital LLC boosted its holdings in shares of Thermo Fisher Scientific by 3.2% during the third quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock worth $296,000 after acquiring an additional 19 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.