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

Thermo Fisher Scientific (NYSE:TMO) had its price objective hoisted by HSBC from $660.00 to $670.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. HSBC’s price target indicates a potential upside of 17.12% from the company’s current price.

Several other equities analysts have also recently issued reports on TMO. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Evercore ISI raised their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.35.

Thermo Fisher Scientific Stock Down 0.8 %

Shares of TMO stock traded down $4.83 during trading hours on Tuesday, hitting $572.06. 339,395 shares of the company’s stock traded hands, compared to its average volume of 1,539,408. The stock’s fifty day simple moving average is $574.18 and its two-hundred day simple moving average is $531.06. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The stock has a market cap of $218.36 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.41 and a beta of 0.80. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. On average, analysts expect that Thermo Fisher Scientific will post 21.56 EPS for the current year.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,277 shares of company stock valued at $29,649,264. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors have recently added to or reduced their stakes in the stock. Northwest Financial Advisors bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $29,000. True Wealth Design LLC lifted its position 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 worth $29,000 after buying an additional 51 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in Thermo Fisher Scientific in the first quarter worth $31,000. Pineridge Advisors LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $39,000. Finally, Cape Investment Advisory Inc. lifted its position in Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after buying an additional 26 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.