Thermo Fisher Scientific (TMO) Sets New 52-Week High After Analyst Upgrade

Thermo Fisher Scientific Inc. (NYSE:TMO)’s share price hit a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $295.00 to $300.00. Barclays currently has an overweight rating on the stock. Thermo Fisher Scientific traded as high as $267.41 and last traded at $266.31, with a volume of 27071 shares changing hands. The stock had previously closed at $263.53.

Several other equities research analysts have also weighed in on the company. BTIG Research raised their target price on Thermo Fisher Scientific to $290.00 and gave the stock a “buy” rating in a research report on Thursday, January 31st. Needham & Company LLC started coverage on Thermo Fisher Scientific in a research report on Wednesday, January 2nd. They set a “strong-buy” rating and a $271.00 target price on the stock. Finally, Zacks Investment Research lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Thursday, December 6th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $277.70.

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 2,500 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $266.00, for a total transaction of $665,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gregory J. Herrema sold 5,400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $251.51, for a total value of $1,358,154.00. Following the transaction, the senior vice president now directly owns 31,846 shares in the company, valued at approximately $8,009,587.46. The disclosure for this sale can be found here. Insiders have sold a total of 36,927 shares of company stock worth $9,388,124 in the last three months. Corporate insiders own 0.49% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC increased its holdings in shares of Thermo Fisher Scientific by 0.9% in the fourth quarter. Archford Capital Strategies LLC now owns 4,610 shares of the medical research company’s stock valued at $1,032,000 after purchasing an additional 43 shares during the period. Aries Wealth Management increased its holdings in shares of Thermo Fisher Scientific by 1.1% in the fourth quarter. Aries Wealth Management now owns 4,269 shares of the medical research company’s stock valued at $955,000 after purchasing an additional 45 shares during the period. Balasa Dinverno & Foltz LLC increased its holdings in shares of Thermo Fisher Scientific by 2.1% in the fourth quarter. Balasa Dinverno & Foltz LLC now owns 2,238 shares of the medical research company’s stock valued at $501,000 after purchasing an additional 46 shares during the period. Atlas Capital Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 5.5% in the fourth quarter. Atlas Capital Advisors LLC now owns 923 shares of the medical research company’s stock valued at $207,000 after purchasing an additional 48 shares during the period. Finally, Johnson Financial Group Inc. increased its holdings in shares of Thermo Fisher Scientific by 8.0% in the fourth quarter. Johnson Financial Group Inc. now owns 673 shares of the medical research company’s stock valued at $151,000 after purchasing an additional 50 shares during the period. 87.23% of the stock is currently owned by institutional investors.

The firm has a market cap of $105.15 billion, a PE ratio of 23.89, a P/E/G ratio of 1.74 and a beta of 1.13. The company has a quick ratio of 1.24, a current ratio of 1.73 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, January 30th. The medical research company reported $3.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.19 by $0.06. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.26 billion. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 12.06%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 earnings per share. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 12.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Friday, March 15th will be issued a $0.19 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.29%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. Thermo Fisher Scientific’s payout ratio is presently 6.83%.

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About Thermo Fisher Scientific (NYSE:TMO)

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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