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

Thermo Fisher Scientific (NYSE:TMO) had its target price increased by equities researchers at HSBC from $660.00 to $670.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. HSBC’s price target suggests a potential upside of 17.12% from the company’s current price.

A number of other research firms also recently commented on TMO. Citigroup assumed coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective for the company. Raymond James boosted their target price on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays boosted their target price on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Royal Bank of Canada boosted their target price on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.35.

Thermo Fisher Scientific Price Performance

TMO stock traded down $4.83 during trading on Tuesday, hitting $572.06. The company had a trading volume of 339,395 shares, compared to its average volume of 1,539,408. The company has a fifty day moving average price of $574.18 and a two-hundred day moving average price of $531.06. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The company has a market cap of $218.36 billion, a P/E ratio of 36.69, a P/E/G ratio of 2.41 and a beta of 0.80. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating 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 business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Equities research analysts expect that Thermo Fisher Scientific will post 21.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were 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 directly owns 1,207 shares in the company, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders have sold 52,277 shares of company stock valued at $29,649,264 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds have recently modified their holdings of TMO. Joel Isaacson & Co. LLC raised its position in Thermo Fisher Scientific by 69.4% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,721 shares of the medical research company’s stock worth $1,581,000 after purchasing an additional 1,115 shares during the last quarter. Vest Financial LLC bought a new position in Thermo Fisher Scientific during the 1st quarter worth $323,000. Arkadios Wealth Advisors raised its position in Thermo Fisher Scientific by 8.0% during the 1st quarter. Arkadios Wealth Advisors now owns 1,008 shares of the medical research company’s stock worth $586,000 after purchasing an additional 75 shares during the last quarter. Mill Capital Management LLC raised its position in Thermo Fisher Scientific by 0.4% during the 1st quarter. Mill Capital Management LLC now owns 77,109 shares of the medical research company’s stock worth $44,817,000 after purchasing an additional 298 shares during the last quarter. Finally, Caprock Group LLC raised its position in Thermo Fisher Scientific by 5.0% during the 1st quarter. Caprock Group LLC now owns 6,976 shares of the medical research company’s stock worth $4,058,000 after purchasing an additional 331 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.