JPMorgan Chase & Co. Begins Coverage on Thermo Fisher Scientific Inc. (TMO)
Analysts at JPMorgan Chase & Co. began coverage on shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in a report released on Thursday. The brokerage set an “overweight” rating on the stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Wednesday, July 20th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a report on Wednesday, July 6th. Leerink Swann reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a report on Sunday, May 29th. Mizuho lifted their target price on Thermo Fisher Scientific from $166.00 to $170.00 and gave the company a “buy” rating in a report on Friday, May 27th. Finally, Citigroup Inc. lifted their target price on Thermo Fisher Scientific from $160.00 to $182.00 and gave the company a “buy” rating in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Thermo Fisher Scientific has an average rating of “Buy” and an average price target of $159.66.
Thermo Fisher Scientific (NYSE:TMO) opened at 155.42 on Thursday. The company has a 50-day moving average of $152.61 and a 200-day moving average of $149.02. Thermo Fisher Scientific has a one year low of $117.10 and a one year high of $160.68. The company has a market cap of $61.28 billion, a price-to-earnings ratio of 31.09 and a beta of 1.00.
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Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, July 28th. The company reported $2.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.02. The business earned $4.54 billion during the quarter, compared to analyst estimates of $4.50 billion. Thermo Fisher Scientific had a return on equity of 14.70% and a net margin of 11.35%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. Equities research analysts expect that Thermo Fisher Scientific will post $8.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Thursday, September 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.60 annualized dividend and a yield of 0.39%. Thermo Fisher Scientific’s payout ratio is currently 12.02%.
In related news, CEO Marc N. Casper sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $147.69, for a total transaction of $2,953,800.00. Following the completion of the transaction, the chief executive officer now owns 340,998 shares in the company, valued at $50,361,994.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director C Martin Harris sold 390 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $157.33, for a total value of $61,358.70. Following the transaction, the director now owns 4,648 shares of the company’s stock, valued at approximately $731,269.84. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in TMO. Mycio Wealth Partners LLC increased 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 worth $105,000 after buying an additional 11 shares in the last quarter. Signaturefd LLC increased 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 worth $124,000 after buying an additional 81 shares in the last quarter. Cedar Wealth Management LLC increased 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 worth $203,000 after buying an additional 342 shares in the last quarter. Bridgeway Capital Management Inc. acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $207,000. Finally, Tiemann Investment Advisors LLC increased its position in shares of Thermo Fisher Scientific by 10.2% in the first quarter. Tiemann Investment Advisors LLC now owns 1,625 shares of the company’s stock worth $230,000 after buying an additional 150 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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