Morgan Stanley Begins Coverage on Thermo Fisher Scientific (NYSE:TMO)

Morgan Stanley initiated coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a research note released on Monday morning, Benzinga reports. The brokerage issued an overweight rating and a $485.00 target price on the medical research company’s stock.

TMO has been the topic of several other reports. SVB Leerink upped their price objective on shares of Thermo Fisher Scientific from $455.00 to $470.00 and gave the stock an outperform rating in a research note on Friday, September 11th. Bank of America upped their price objective on shares of Thermo Fisher Scientific from $460.00 to $480.00 and gave the stock a buy rating in a research note on Friday, September 11th. BTIG Research upped their price objective on shares of Thermo Fisher Scientific from $372.00 to $475.00 and gave the stock a buy rating in a research note on Thursday, July 23rd. Argus upped their price objective on shares of Thermo Fisher Scientific from $370.00 to $450.00 in a research note on Monday, July 27th. Finally, Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $370.00 to $460.00 and gave the stock a buy rating in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $447.21.

NYSE:TMO opened at $433.88 on Monday. Thermo Fisher Scientific has a 12-month low of $250.21 and a 12-month high of $441.96. The company has a quick ratio of 2.02, a current ratio of 2.62 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $171.64 billion, a PE ratio of 46.96, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. The firm has a 50-day moving average price of $419.09 and a 200 day moving average price of $356.15.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.67 by $1.22. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $3.04 earnings per share. On average, research analysts expect that Thermo Fisher Scientific will post 15.27 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 0.20%. Thermo Fisher Scientific’s payout ratio is presently 7.13%.

In other Thermo Fisher Scientific news, COO Mark Stevenson sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $420.16, for a total value of $9,243,520.00. Following the transaction, the chief operating officer now directly owns 34,561 shares of the company’s stock, valued at $14,521,149.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Peter E. Hornstra sold 3,337 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $418.82, for a total transaction of $1,397,602.34. Following the completion of the transaction, the chief accounting officer now directly owns 19,862 shares in the company, valued at $8,318,602.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,868 shares of company stock worth $71,253,379. Insiders own 0.44% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Csenge Advisory Group raised its holdings 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 worth $442,000 after purchasing an additional 221 shares during the period. Enterprise Bank & Trust Co raised its holdings 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 worth $2,620,000 after purchasing an additional 105 shares during the period. FDx Advisors Inc. raised its holdings in Thermo Fisher Scientific by 3.2% in the first quarter. FDx Advisors Inc. now owns 6,241 shares of the medical research company’s stock worth $1,770,000 after purchasing an additional 193 shares during the period. Ellevest Inc. raised its holdings in Thermo Fisher Scientific by 38.6% in the second quarter. Ellevest Inc. now owns 585 shares of the medical research company’s stock worth $212,000 after purchasing an additional 163 shares during the period. Finally, APG Asset Management N.V. raised its holdings in Thermo Fisher Scientific by 11.3% in 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 purchasing an additional 36,357 shares during the period. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Company Profile

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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Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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