The Bank of America Corp. Analysts Give Thermo Fisher Scientific Inc. (TMO) a $180.00 Price Target

The Bank of America Corp. Analysts Give Thermo Fisher Scientific Inc. (TMO) a $180.00 Price Target

Bank of America Corp. set a $180.00 price target on Thermo Fisher Scientific Inc. (NYSE:TMO) in a report issued on Friday. The brokerage currently has a a buy rating on the stock.

TMO has been the topic of a number of other research reports. Cleveland Research downgraded Thermo Fisher Scientific from a buy rating to a neutral rating in a report on Friday, September 9th. JPMorgan Chase & Co. initiated coverage on Thermo Fisher Scientific in a research note on Thursday, September 22nd. They set an overweight rating and a $180.00 price target on the stock. Zacks Investment Research upgraded Thermo Fisher Scientific from a hold rating to a buy rating and set a $175.00 price target on the stock in a research note on Wednesday, July 20th. Citigroup Inc. raised their price target on Thermo Fisher Scientific from $160.00 to $182.00 and gave the stock a buy rating in a research note on Friday, July 29th. Finally, Mizuho set a $175.00 price target on Thermo Fisher Scientific and gave the stock a buy rating in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $162.72.

Thermo Fisher Scientific (NYSE:TMO) opened at 154.90 on Friday. The firm has a 50-day moving average price of $153.50 and a 200-day moving average price of $150.90. Thermo Fisher Scientific has a one year low of $119.75 and a one year high of $160.68. The firm has a market capitalization of $61.07 billion, a P/E ratio of 30.99 and a beta of 0.97.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, July 28th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.02. Thermo Fisher Scientific had a return on equity of 14.70% and a net margin of 11.35%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts anticipate that Thermo Fisher Scientific will post $8.17 earnings per share for the current year.

In related news, Director C Martin Harris sold 390 shares of Thermo Fisher Scientific stock in a transaction on Friday, August 5th. The stock was sold at an average price of $157.33, for a total transaction of $61,358.70. Following the completion of the transaction, the director now directly owns 4,648 shares of the company’s stock, valued at $731,269.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 30,000 shares of Thermo Fisher Scientific stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $151.17, for a total value of $4,535,100.00. Following the transaction, the chief executive officer now directly owns 308,647 shares of the company’s stock, valued at $46,658,166.99. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of TMO. Mycio Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 1.6% in the second quarter. Mycio Wealth Partners LLC now owns 711 shares of the company’s stock valued at $105,000 after buying an additional 11 shares in the last quarter. Signaturefd LLC boosted its position in shares of Thermo Fisher Scientific by 10.6% in the second quarter. Signaturefd LLC now owns 842 shares of the company’s stock valued at $124,000 after buying an additional 81 shares in the last quarter. Cedar Wealth Management LLC boosted its position in shares of Thermo Fisher Scientific by 33.0% in the second quarter. Cedar Wealth Management LLC now owns 1,377 shares of the company’s stock valued at $203,000 after buying an additional 342 shares in the last quarter. Bridgeway Capital Management Inc. purchased a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $207,000. Finally, Summit Financial Wealth Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $231,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

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