Thermo Fisher Scientific (NYSE:TMO) Given New $696.00 Price Target at TD Cowen

Thermo Fisher Scientific (NYSE:TMO) had its price target lifted by TD Cowen from $654.00 to $696.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other brokerages also recently weighed in on TMO. UBS Group raised their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised their price objective on Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Morgan Stanley increased their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, October 14th. Finally, Evercore ISI reiterated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $621.70.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $616.97 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. Thermo Fisher Scientific has a one year low of $385.46 and a one year high of $628.08. The stock’s 50 day moving average price is $579.34 and its 200 day moving average price is $514.40. The firm has a market capitalization of $231.80 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 4.08 and a beta of 0.91.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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. The company had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, sell-side analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a stock buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was 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 in the company, valued at approximately $64,400,668.20. This represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This represents a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 149,271 shares of company stock worth $86,507,282. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC grew its position in Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after buying an additional 20 shares in the last quarter. Arete Wealth Advisors LLC increased its position in Thermo Fisher Scientific by 14.3% in the 1st quarter. Arete Wealth Advisors LLC now owns 1,005 shares of the medical research company’s stock valued at $500,000 after acquiring an additional 126 shares during the period. MBB Public Markets I LLC bought a new stake in Thermo Fisher Scientific during the 1st quarter valued at $304,000. Finally, SCS Capital Management LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter worth $1,344,000. Institutional investors and hedge funds 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.