Thermo Fisher Scientific (NYSE:TMO) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Thermo Fisher Scientific (NYSE:TMO) from a hold rating to a buy rating in a research report sent to investors on Friday.

TMO has been the topic of a number of other research reports. TD Cowen reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. UBS Group increased their price objective on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Leerink Partners boosted their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company increased their price target on Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $625.47.

Thermo Fisher Scientific Trading Down 2.2%

TMO opened at $625.42 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm has a market cap of $234.98 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 4.21 and a beta of 0.91. Thermo Fisher Scientific has a 12 month low of $385.46 and a 12 month high of $643.99. The stock has a fifty day moving average price of $590.88 and a 200-day moving average price of $530.87.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.29. The company had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.28 earnings per share. As a group, equities research analysts anticipate that Thermo Fisher Scientific will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.94%.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $566.10, for a total value of $4,104,225.00. Following the transaction, the chief executive officer owned 113,762 shares in the company, valued at approximately $64,400,668.20. This represents a 5.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,767 shares of company stock valued at $76,467,793 over the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Thermo Fisher Scientific

Hedge funds have recently modified their holdings of the stock. TIAA Trust National Association raised its position in shares of Thermo Fisher Scientific by 10.5% in the second quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock valued at $50,256,000 after buying an additional 11,817 shares during the last quarter. Lombard Odier Asset Management Switzerland SA raised its holdings in Thermo Fisher Scientific by 8.4% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after acquiring an additional 1,128 shares during the last quarter. Caledonia Investments PLC lifted its stake in Thermo Fisher Scientific by 11.5% in the 2nd quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock worth $45,299,000 after purchasing an additional 11,500 shares in the last quarter. Weaver Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $506,000. Finally, Heritage Investors Management Corp increased its holdings in shares of Thermo Fisher Scientific by 9.6% in the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock valued at $22,944,000 after purchasing an additional 4,971 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.