Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $632.00 at Robert W. Baird

Thermo Fisher Scientific (NYSE:TMO) had its target price raised by equities researchers at Robert W. Baird from $620.00 to $632.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 4.09% from the company’s previous close.

A number of other research firms also recently commented on TMO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays reduced their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group raised their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $618.94.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $607.14 on Thursday. The firm has a market capitalization of $231.76 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 2.68 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.33. The business’s fifty day moving average price is $563.01 and its 200 day moving average price is $565.65. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $614.65.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $5.15 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific will post 21.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC boosted its position in Thermo Fisher Scientific by 0.3% during the fourth quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock worth $527,524,000 after purchasing an additional 2,928 shares in the last quarter. Summa Corp. purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $418,000. S. R. Schill & Associates lifted its holdings in shares of Thermo Fisher Scientific by 106.3% in the fourth quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock valued at $816,000 after purchasing an additional 792 shares in the last quarter. Tsfg LLC grew its position in shares of Thermo Fisher Scientific by 8.3% in the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 19 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $110,000. 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.