Thermo Fisher Scientific (NYSE:TMO) Given Overweight Rating at JPMorgan Chase & Co.

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JPMorgan Chase & Co. restated their overweight rating on shares of Thermo Fisher Scientific (NYSE:TMO) in a research report sent to investors on Thursday, The Fly reports. They currently have a $460.00 price target on the medical research company’s stock.

TMO has been the subject of a number of other research reports. SVB Leerink boosted their price objective on shares of Thermo Fisher Scientific from $365.00 to $455.00 and gave the company an outperform rating in a research report on Thursday, July 23rd. Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $370.00 to $460.00 and gave the company a buy rating in a research report on Thursday, July 23rd. BTIG Research boosted their price objective on shares of Thermo Fisher Scientific from $372.00 to $475.00 and gave the company a buy rating in a research report on Thursday, July 23rd. Cowen reaffirmed a buy rating and set a $380.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, July 6th. Finally, Cleveland Research raised shares of Thermo Fisher Scientific from a neutral rating to a buy rating in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $438.33.

TMO traded up $5.77 during midday trading on Thursday, reaching $427.88. 25,616 shares of the company’s stock were exchanged, compared to its average volume of 1,145,990. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.62 and a quick ratio of 2.02. The stock has a market capitalization of $166.39 billion, a PE ratio of 45.68, a P/E/G ratio of 1.85 and a beta of 1.07. The business’s 50-day moving average price is $400.33 and its 200 day moving average price is $343.38. Thermo Fisher Scientific has a 1-year low of $250.21 and a 1-year high of $423.70.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $1.22. The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.91 billion. Thermo Fisher Scientific had a net margin of 14.12% and a return on equity of 18.18%. During the same quarter in the previous year, the business posted $3.04 earnings per share. As a group, analysts expect that Thermo Fisher Scientific will post 15.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.88 annualized dividend and a yield of 0.21%. Thermo Fisher Scientific’s dividend payout ratio is presently 7.13%.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 20,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $349.26, for a total transaction of $6,985,200.00. Following the sale, the chief executive officer now directly owns 294,946 shares of the company’s stock, valued at $103,012,839.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Syed A. Jafry sold 20,513 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $414.94, for a total transaction of $8,511,664.22. Following the sale, the vice president now directly owns 26,657 shares in the company, valued at $11,061,055.58. The disclosure for this sale can be found here. Insiders sold 194,368 shares of company stock worth $76,862,859 over the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of TMO. Csenge Advisory Group raised its position in Thermo Fisher Scientific by 22.1% in the second quarter. Csenge Advisory Group now owns 1,220 shares of the medical research company’s stock valued at $442,000 after purchasing an additional 221 shares during the last quarter. Enterprise Bank & Trust Co raised its position in Thermo Fisher Scientific by 1.5% in the second quarter. Enterprise Bank & Trust Co now owns 7,231 shares of the medical research company’s stock valued at $2,620,000 after purchasing an additional 105 shares during the last quarter. FDx Advisors Inc. raised its position in shares of Thermo Fisher Scientific by 3.2% during the first quarter. FDx Advisors Inc. now owns 6,241 shares of the medical research company’s stock worth $1,770,000 after acquiring an additional 193 shares during the last quarter. Ellevest Inc. raised its position in shares of Thermo Fisher Scientific by 38.6% during the second quarter. Ellevest Inc. now owns 585 shares of the medical research company’s stock worth $212,000 after acquiring an additional 163 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Thermo Fisher Scientific by 11.3% during the first quarter. APG Asset Management N.V. now owns 359,073 shares of the medical research company’s stock worth $101,833,000 after acquiring an additional 36,357 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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The Fly

Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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