Thermo Fisher Scientific (NYSE:TMO) Hits New 12-Month High – Here’s What Happened

Thermo Fisher Scientific Inc. (NYSE:TMO)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $727.56 and last traded at $723.2760, with a volume of 128,674 shares trading hands. The stock had previously closed at $718.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Thermo Fisher Scientific from $650.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. TD Cowen increased their target price on Thermo Fisher Scientific from $760.00 to $810.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Leerink Partners boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. BMO Capital Markets cut shares of Thermo Fisher Scientific to a “market perform” rating in a research note on Wednesday, September 9th. Finally, UBS Group restated a “buy” rating and issued a $800.00 price objective (up from $540.00) on shares of Thermo Fisher Scientific in a research report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $683.64.

Thermo Fisher Scientific Trading Up 0.7%

The business’s 50 day simple moving average is $665.03 and its 200 day simple moving average is $555.61. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.81 and a quick ratio of 1.41. The company has a market capitalization of $267.87 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.94 and a beta of 0.84.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.40 by $0.28. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.79 earnings per share. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.27 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.88 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.92%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa Britt sold 2,831 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $706.45, for a total value of $1,999,959.95. Following the completion of the sale, the vice president directly owned 11,560 shares of the company’s stock, valued at approximately $8,166,562. The trade was a 19.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Casper sold 275 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $627.05, for a total value of $172,438.75. Following the completion of the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $77,707,171.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 24,546 shares of company stock valued at $15,479,192. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $15,501,867,000. Bank of New York Mellon Corp bought a new position in Thermo Fisher Scientific during the 2nd quarter valued at $1,974,561,000. Bank of America Corp DE bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $1,952,930,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Thermo Fisher Scientific by 0.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,472,524 shares of the medical research company’s stock valued at $1,239,625,000 after buying an additional 22,827 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Thermo Fisher Scientific during the second quarter worth about $1,122,351,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific develops and supplies products and services used in scientific research, clinical diagnostics, and pharmaceutical and biotechnology manufacturing. Its offerings include laboratory instruments, reagents and consumables, analytical equipment, diagnostic tests, and services that support drug development and clinical research. The company operates through businesses focused on life sciences, analytical instruments, specialty diagnostics, and laboratory products and biopharma services.