Analysts Set Thermo Fisher Scientific Inc. (NYSE:TMO) PT at $335.20

Thermo Fisher Scientific Inc. (NYSE:TMO) has been assigned an average rating of “Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $339.20.

Several equities research analysts have recently commented on the company. Robert W. Baird upped their target price on Thermo Fisher Scientific from $319.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Evercore ISI raised Thermo Fisher Scientific to an “outperform” rating in a report on Thursday, November 14th. Argus reaffirmed a “positive” rating and set a $370.00 target price on shares of Thermo Fisher Scientific in a report on Monday. BTIG Research upped their target price on Thermo Fisher Scientific from $342.00 to $372.00 and gave the company an “in-line” rating in a report on Friday, January 31st. Finally, Wells Fargo & Co reduced their target price on Thermo Fisher Scientific from $350.00 to $345.00 and set an “equal weight” rating for the company in a report on Friday, January 31st.

In related news, Director Jim P. Manzi sold 4,410 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $332.32, for a total transaction of $1,465,531.20. Following the transaction, the director now directly owns 21,632 shares of the company’s stock, valued at $7,188,746.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of TMO. Hexavest Inc. increased its holdings in shares of Thermo Fisher Scientific by 46.3% during the 4th quarter. Hexavest Inc. now owns 98 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 31 shares during the last quarter. Blue Chip Wealth Management Inc. boosted its stake in Thermo Fisher Scientific by 1.3% during the 4th quarter. Blue Chip Wealth Management Inc. now owns 2,328 shares of the medical research company’s stock valued at $756,000 after purchasing an additional 31 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Thermo Fisher Scientific by 4.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 802 shares of the medical research company’s stock valued at $261,000 after purchasing an additional 31 shares during the period. Capital Bank & Trust Co boosted its stake in Thermo Fisher Scientific by 2.1% during the 4th quarter. Capital Bank & Trust Co now owns 1,509 shares of the medical research company’s stock valued at $490,000 after purchasing an additional 31 shares during the period. Finally, Main Street Research LLC boosted its stake in Thermo Fisher Scientific by 2.8% during the 4th quarter. Main Street Research LLC now owns 1,187 shares of the medical research company’s stock valued at $386,000 after purchasing an additional 32 shares during the period. 80.82% of the stock is currently owned by institutional investors.

Shares of NYSE TMO traded down $0.47 during mid-day trading on Friday, hitting $309.16. 1,944,700 shares of the company traded hands, compared to its average volume of 1,533,579. Thermo Fisher Scientific has a 1 year low of $246.67 and a 1 year high of $342.26. The stock has a market capitalization of $129.58 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 1.72 and a beta of 1.14. The company has a quick ratio of 1.37, a current ratio of 1.91 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $331.53 and a two-hundred day moving average of $306.61.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $3.55 EPS for the quarter, beating the consensus estimate of $3.54 by $0.01. Thermo Fisher Scientific had a return on equity of 17.24% and a net margin of 14.47%. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.78 billion. During the same period in the prior year, the business posted $3.25 earnings per share. Thermo Fisher Scientific’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific will post 13.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Monday, March 16th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.28%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.19. Thermo Fisher Scientific’s payout ratio is presently 6.15%.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase plan on Friday, November 8th that allows the company to buyback $2.50 million in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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