TD Cowen Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $696.00

Thermo Fisher Scientific (NYSE:TMO) had its target price lifted by equities research analysts at TD Cowen from $654.00 to $696.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. TD Cowen’s price objective suggests a potential upside of 14.82% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, October 14th. Wells Fargo & Company boosted their price objective on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, December 15th. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price on the stock. Leerink Partners boosted their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley raised their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $621.70.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $606.16 on Wednesday. The business has a fifty day moving average price of $580.33 and a 200-day moving average price of $515.03. 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 company has a market capitalization of $227.74 billion, a PE ratio of 35.02, a PEG ratio of 4.06 and a beta of 0.91. Thermo Fisher Scientific has a 1-year low of $385.46 and a 1-year high of $628.08.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating the consensus estimate of $5.50 by $0.29. The company had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. Thermo Fisher Scientific’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, equities analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a share buyback plan on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the sale, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at approximately $64,400,668.20. This trade represents a 5.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,271 shares of company stock worth $86,507,282 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of hedge funds have recently bought and sold shares of TMO. Financial Management Network Inc. raised its position in shares of Thermo Fisher Scientific by 3.7% during 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 in the last quarter. Bruce G. Allen Investments LLC increased its stake in Thermo Fisher Scientific by 8.8% during the third 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 lifted its stake in shares of Thermo Fisher Scientific by 3.2% in the 3rd quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 19 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 35.1% in the 3rd 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. Finally, Hopwood Financial Services Inc. increased its position in shares of Thermo Fisher Scientific by 9.1% during the 3rd quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock valued at $116,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.