Morgan Stanley reissued their overweight rating on shares of Thermo Fisher Scientific Inc (NYSE:TMO) in a report released on Wednesday, September 6th, Marketbeat reports. Morgan Stanley currently has a $220.00 target price on the medical research company’s stock.
A number of other equities research analysts also recently issued reports on the stock. Cowen and Company reaffirmed a buy rating and set a $200.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 1st. Argus reissued a buy rating on shares of Thermo Fisher Scientific in a research note on Tuesday, August 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Thermo Fisher Scientific from a hold rating to a buy rating and set a $197.00 target price on the stock in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Thermo Fisher Scientific from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Finally, Bank of America Corporation restated a buy rating and issued a $210.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $193.19.
Shares of Thermo Fisher Scientific (NYSE:TMO) opened at 194.04 on Wednesday. The stock has a market cap of $75.70 billion, a PE ratio of 33.80 and a beta of 1.05. Thermo Fisher Scientific has a 52-week low of $139.07 and a 52-week high of $194.30. The stock’s 50 day moving average is $178.63 and its 200 day moving average is $169.74.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.92 billion. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 earnings per share. Equities research analysts forecast that Thermo Fisher Scientific will post $9.35 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.45%.
In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 11,318 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $172.94, for a total value of $1,957,334.92. Following the sale, the director now directly owns 38,757 shares of the company’s stock, valued at approximately $6,702,635.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Seth H. Hoogasian sold 4,140 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $177.80, for a total value of $736,092.00. Following the completion of the transaction, the vice president now owns 25,518 shares in the company, valued at $4,537,100.40. The disclosure for this sale can be found here. Insiders have sold 22,738 shares of company stock valued at $4,021,512 in the last 90 days. Company insiders own 0.49% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC grew its position in shares of Thermo Fisher Scientific by 71.5% in the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock worth $105,000 after acquiring an additional 253 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at approximately $108,000. Cribstone Capital Management LLC raised its stake in Thermo Fisher Scientific by 8.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Sharkey Howes & Javer raised its stake in Thermo Fisher Scientific by 1.0% during the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock valued at $113,000 after acquiring an additional 7 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $113,000. Hedge funds and other institutional investors own 83.52% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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