HSBC Raises Thermo Fisher Scientific (NYSE:TMO) Price Target to $660.00

Thermo Fisher Scientific (NYSE:TMO) had its price target boosted by investment analysts at HSBC from $630.00 to $660.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. HSBC’s price objective suggests a potential upside of 20.45% from the company’s previous close.

Several other analysts have also issued reports on the company. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. TheStreet upgraded Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. 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. The Goldman Sachs Group boosted their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI boosted their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $604.69.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded down $6.62 during mid-day trading on Wednesday, reaching $547.93. 863,488 shares of the company’s stock were exchanged, compared to its average volume of 1,529,581. The business’s fifty day simple moving average is $571.67 and its 200 day simple moving average is $526.87. The firm has a market capitalization of $209.15 billion, a PE ratio of 35.44, a P/E/G ratio of 2.34 and a beta of 0.80. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $603.82. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, topping analysts’ consensus estimates of $5.64 by $0.03. The business had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. Thermo Fisher Scientific’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $5.40 earnings per share. On average, sell-side analysts expect that Thermo Fisher Scientific will post 21.52 earnings per share for the current year.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. In the last three months, insiders sold 50,277 shares of company stock worth $28,513,384. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several institutional investors have recently bought and sold shares of TMO. WCM Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock worth $527,524,000 after acquiring an additional 2,928 shares in the last quarter. Phoenix Holdings Ltd. raised its position in shares of Thermo Fisher Scientific by 21.4% in the 3rd quarter. Phoenix Holdings Ltd. now owns 9,366 shares of the medical research company’s stock worth $4,750,000 after acquiring an additional 1,654 shares in the last quarter. DMC Group LLC raised its position in shares of Thermo Fisher Scientific by 16.5% in the 3rd quarter. DMC Group LLC now owns 592 shares of the medical research company’s stock worth $300,000 after acquiring an additional 84 shares in the last quarter. S. R. Schill & Associates raised its position in shares of Thermo Fisher Scientific by 106.3% in the 4th quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock worth $816,000 after acquiring an additional 792 shares in the last quarter. Finally, Check Capital Management Inc. CA bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $219,000. 89.23% of the stock is currently 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.