Thermo Fisher Scientific (NYSE:TMO) Price Target Raised to $321.00 at Needham & Company LLC
Thermo Fisher Scientific (NYSE:TMO) had its price target lifted by Needham & Company LLC from $315.00 to $321.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the medical research company’s stock.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Eutelsat Communications from a hold rating to a strong-buy rating and set a $21.00 price objective on the stock in a research note on Wednesday, June 12th. UBS Group lowered AGL Energy to a sell rating in a research note on Thursday, May 23rd. Wolfe Research started coverage on Waters in a research note on Thursday, May 30th. They issued an underperform rating on the stock. Argus lifted their price objective on Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, BTIG Research lifted their price objective on Thermo Fisher Scientific to $320.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Thermo Fisher Scientific has a consensus rating of Buy and a consensus price target of $302.55.
Thermo Fisher Scientific stock opened at $287.21 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $291.39. The company has a market capitalization of $114.88 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.88 and a beta of 1.10. Thermo Fisher Scientific has a 52 week low of $208.34 and a 52 week high of $305.45.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 16th. This represents a $0.76 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is 6.83%.
In related news, CEO Marc N. Casper sold 50,713 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $273.21, for a total transaction of $13,855,298.73. Following the transaction, the chief executive officer now directly owns 302,193 shares in the company, valued at $82,562,149.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Williamson sold 2,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $268.29, for a total value of $670,725.00. Following the transaction, the chief financial officer now owns 40,029 shares in the company, valued at $10,739,380.41. The disclosure for this sale can be found here. Insiders have sold 53,488 shares of company stock worth $14,600,474 over the last 90 days. Corporate insiders own 0.45% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Thermo Fisher Scientific by 4.1% in the 1st quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock valued at $7,459,327,000 after purchasing an additional 1,074,400 shares during the period. FMR LLC grew its stake in shares of Thermo Fisher Scientific by 33.5% in the 1st quarter. FMR LLC now owns 11,572,581 shares of the medical research company’s stock valued at $3,167,647,000 after purchasing an additional 2,900,868 shares during the period. Geode Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 4,897,714 shares of the medical research company’s stock valued at $1,094,013,000 after purchasing an additional 422,625 shares during the period. Norges Bank bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $946,280,000. Finally, Clearbridge Investments LLC grew its stake in shares of Thermo Fisher Scientific by 2.4% in the 1st quarter. Clearbridge Investments LLC now owns 3,089,195 shares of the medical research company’s stock valued at $845,574,000 after purchasing an additional 71,898 shares during the period. Hedge funds and other institutional investors own 88.02% of the company’s stock.
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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