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

Thermo Fisher Scientific Inc. (NYSE:TMO)’s share price reached a new 52-week high on Wednesday . The company traded as high as $631.67 and last traded at $630.3990, with a volume of 931344 shares changing hands. The stock had previously closed at $619.01.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price for the company. Hsbc Global Res raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Wall Street Zen downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Leerink Partners increased their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Thermo Fisher Scientific Trading Up 2.8%

The company has a market capitalization of $239.05 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 4.07 and a beta of 0.91. The stock’s fifty day moving average price is $587.82 and its two-hundred day moving average price is $527.91. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The company had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. During the same quarter last year, the firm posted $5.28 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, VP Lisa P. Britt sold 1,058 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the transaction, the vice president directly owned 13,087 shares in the company, valued at $7,698,558.62. This trade represents a 7.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the sale, the chief operating officer directly owned 84,117 shares in the company, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 149,271 shares of company stock worth $86,507,282. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in Thermo Fisher Scientific during the third quarter valued at $28,000. Highline Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the last quarter. Beacon Financial Strategies CORP bought a new position in Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. Olistico Wealth LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Finally, Capital A Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the period. Institutional investors own 89.23% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.