JPMorgan Chase & Co. Increases Thermo Fisher Scientific (NYSE:TMO) Price Target to $650.00

Thermo Fisher Scientific (NYSE:TMO) had its price target boosted by JPMorgan Chase & Co. from $600.00 to $650.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Several other brokerages have also recently issued reports on TMO. The Goldman Sachs Group lifted their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Evercore ISI boosted their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Barclays cut Thermo Fisher Scientific from an overweight rating to an equal weight rating and boosted their price objective for the stock from $475.00 to $555.00 in a research note on Wednesday, January 24th. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating on the stock in a research note on Thursday. Finally, Raymond James boosted their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of Moderate Buy and an average price target of $606.76.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $573.60 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The business’s 50-day simple moving average is $573.60 and its two-hundred day simple moving average is $530.40. The stock has a market cap of $218.95 billion, a PE ratio of 36.79, a P/E/G ratio of 2.42 and a beta of 0.80. Thermo Fisher Scientific has a 52 week low of $415.60 and a 52 week high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. As a group, analysts forecast that Thermo Fisher Scientific will post 21.56 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity at Thermo Fisher Scientific

In related news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares in the company, valued at $660,192.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the transaction, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,277 shares of company stock worth $28,513,384. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Hedge funds have recently made changes to their positions in the company. Northwest Financial Advisors purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at $29,000. True Wealth Design LLC boosted its holdings in 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 purchasing an additional 51 shares during the last quarter. LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth about $31,000. Pineridge Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $39,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of Thermo Fisher Scientific by 52.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after acquiring an additional 26 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.