HSBC Boosts Thermo Fisher Scientific (NYSE:TMO) Price Target to $670.00

Thermo Fisher Scientific (NYSE:TMO) had its price objective raised by HSBC from $660.00 to $670.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

TMO has been the subject of several other research reports. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Royal Bank of Canada lifted their target price on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Evercore ISI raised their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group increased their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of Moderate Buy and a consensus target price of $607.35.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $571.19 on Tuesday. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $603.82. The business’s fifty day moving average is $575.24 and its 200 day moving average is $532.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The firm has a market cap of $218.03 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.36 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. Research analysts predict that Thermo Fisher Scientific will post 21.64 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,039,491.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,039,491.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the sale, the senior vice president now owns 12,901 shares in the company, valued at approximately $7,250,362. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,277 shares of company stock worth $35,373,364. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at about $2,909,524,000. International Assets Investment Management LLC increased its position in shares of Thermo Fisher Scientific by 61,995.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after acquiring an additional 1,008,045 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Thermo Fisher Scientific by 17,046.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock valued at $492,803,000 after acquiring an additional 967,913 shares in the last quarter. Veritas Asset Management LLP increased its holdings in shares of Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after purchasing an additional 697,383 shares in the last quarter. Finally, Winslow Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $333,786,000. 89.23% of the stock is owned by 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.