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

Thermo Fisher Scientific (NYSE:TMO) had its price objective increased by JPMorgan Chase & Co. from $600.00 to $650.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 12.53% from the stock’s current price.

A number of other brokerages also recently weighed in on TMO. Barclays downgraded Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $475.00 to $555.00 in a report on Wednesday, January 24th. Raymond James boosted their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Royal Bank of Canada increased their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Robert W. Baird dropped their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $602.81.

Thermo Fisher Scientific Stock Up 0.5 %

Shares of TMO opened at $577.62 on Thursday. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $220.48 billion, a PE ratio of 37.39, a PEG ratio of 2.42 and a beta of 0.80. The stock’s 50-day moving average price is $572.61 and its two-hundred day moving average price is $529.06.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. On average, analysts anticipate that Thermo Fisher Scientific will post 21.51 EPS for the current year.

Insider Activity

In related news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMO. Norges Bank purchased a new position in Thermo Fisher Scientific in the fourth quarter worth about $2,909,524,000. International Assets Investment Management LLC grew its holdings in Thermo Fisher Scientific by 61,995.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after purchasing an additional 1,008,045 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in Thermo Fisher Scientific by 17,046.7% in the third quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock worth $492,803,000 after purchasing an additional 967,913 shares during the last quarter. Veritas Asset Management LLP raised its holdings in shares of Thermo Fisher Scientific by 70.1% in the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after buying an additional 697,383 shares during the period. Finally, Winslow Capital Management LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at $333,786,000. 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.