Leerink Partners Believes Thermo Fisher (NYSE: TMO) Won’t Stop Here

Leerink Partners analyst Puneet Souda reiterated a Buy rating on Thermo Fisher (TMOResearch Report) on August 2 and set a price target of $600.00. The company’s shares closed last Wednesday at $538.88, close to its 52-week high of $544.36.

According to TipRanks.com, Souda is a 5-star analyst with an average return of 19.5% and a 66.8% success rate. Souda covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, AbCellera Biologics, and Castle Biosciences.

Thermo Fisher has an analyst consensus of Strong Buy, with a price target consensus of $588.42, representing a 9.2% upside. In a report issued on July 28, J.P. Morgan also maintained a Buy rating on the stock with a $600.00 price target.

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The company has a one-year high of $544.36 and a one-year low of $401.07. Currently, Thermo Fisher has an average volume of 1.55M.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TMO in relation to earlier this year.

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Thermo Fisher Scientific, Inc. provides analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services segments. The company was founded on October 11, 1960 and is headquartered in Waltham, MA.