Thermo Fisher Scientific (NYSE:TMO) Stock Rating Upgraded by Sanford C. Bernstein

Thermo Fisher Scientific (NYSE:TMO) was upgraded by research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports. The firm presently has a $630.00 price objective on the medical research company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 15.60% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday. Bank of America decreased their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Stifel Nicolaus dropped their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada lowered their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Bernstein Bank increased their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $650.52.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $545.00 on Friday. The stock’s 50-day moving average is $530.21 and its 200-day moving average is $568.07. The company has a market cap of $208.46 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the business earned $5.69 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 in the last three months. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Large investors have recently made changes to their positions in the business. Hudson Valley Investment Advisors Inc. ADV grew its position in Thermo Fisher Scientific by 1.3% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 20,331 shares of the medical research company’s stock worth $10,577,000 after buying an additional 268 shares during the last quarter. Legacy Private Trust Co. raised its position in shares of Thermo Fisher Scientific by 1.8% during the fourth quarter. Legacy Private Trust Co. now owns 11,912 shares of the medical research company’s stock worth $6,197,000 after purchasing an additional 205 shares during the period. First Hawaiian Bank boosted its position in shares of Thermo Fisher Scientific by 3.0% in the 4th quarter. First Hawaiian Bank now owns 4,158 shares of the medical research company’s stock valued at $2,163,000 after purchasing an additional 122 shares during the period. Douglas Lane & Associates LLC raised its holdings in Thermo Fisher Scientific by 1.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 182,511 shares of the medical research company’s stock worth $94,948,000 after buying an additional 3,460 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in shares of Thermo Fisher Scientific by 3.7% in the fourth quarter. Fulton Bank N.A. now owns 8,161 shares of the medical research company’s stock worth $4,246,000 after buying an additional 288 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.