Thermo Fisher Scientific (NYSE:TMO) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a report published on Tuesday, Benzinga reports. The brokerage issued an overweight rating and a $670.00 price objective on the medical research company’s stock.

Several other equities analysts have also weighed in on TMO. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Barclays cut their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an equal weight rating on the stock in a research report on Friday, June 28th. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a buy rating in a research report on Thursday, July 25th. Finally, Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $630.41.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $610.40 on Tuesday. The company has a 50 day simple moving average of $574.90 and a 200-day simple moving average of $574.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a market capitalization of $233.17 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.81 and a beta of 0.77. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.15 earnings per share. Equities research analysts predict that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the sale, the senior vice president now owns 13,083 shares in the company, valued at $7,860,920.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the sale, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. The disclosure for this sale can be found here. Insiders have sold 33,084 shares of company stock worth $19,767,092 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. Signature Resources Capital Management LLC raised its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Northwest Financial Advisors bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $29,000. True Wealth Design LLC raised its holdings in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. Finally, Stephens Consulting LLC raised its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.