Thermo Fisher Scientific Inc. (TMO) Given a $180.00 Price Target by Bank of America Corp. Analysts
Thermo Fisher Scientific Inc. (NYSE:TMO) has been assigned a $180.00 target price by analysts at Bank of America Corp. in a research note issued to investors on Friday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s price target would suggest a potential upside of 13.77% from the company’s previous close.
TMO has been the topic of a number of other reports. Cleveland Research cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Friday, September 9th. JPMorgan Chase & Co. initiated coverage on Thermo Fisher Scientific in a research report on Thursday, September 22nd. They set an “overweight” rating and a $180.00 target price on the stock. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Wednesday, July 20th. Citigroup Inc. raised their target price on Thermo Fisher Scientific from $160.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Mizuho set a $175.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $162.72.
Shares of Thermo Fisher Scientific (NYSE:TMO) traded down 0.15% during midday trading on Friday, reaching $158.21. The company’s stock had a trading volume of 1,085,169 shares. Thermo Fisher Scientific has a one year low of $119.75 and a one year high of $160.68. The stock’s 50 day moving average price is $153.18 and its 200 day moving average price is $150.42. The firm has a market cap of $62.38 billion, a price-to-earnings ratio of 31.65 and a beta of 0.97.
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Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, July 28th. The company reported $2.03 EPS for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period last year, the firm earned $1.84 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts predict that Thermo Fisher Scientific will post $8.17 earnings per share for the current year.
In other Thermo Fisher Scientific news, SVP Thomas W. Loewald sold 8,025 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $155.00, for a total value of $1,243,875.00. Following the sale, the senior vice president now owns 52,194 shares of the company’s stock, valued at $8,090,070. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 28,797 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $151.01, for a total value of $4,348,634.97. Following the completion of the sale, the chief executive officer now directly owns 307,444 shares in the company, valued at approximately $46,427,118.44. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $200,618,000. Wellington Management Group LLP raised its stake in Thermo Fisher Scientific by 26.0% in the first quarter. Wellington Management Group LLP now owns 6,135,669 shares of the company’s stock worth $868,749,000 after buying an additional 1,267,967 shares in the last quarter. Sound Shore Management Inc. CT raised its stake in Thermo Fisher Scientific by 123.5% in the second quarter. Sound Shore Management Inc. CT now owns 2,204,253 shares of the company’s stock worth $138,096,000 after buying an additional 1,217,950 shares in the last quarter. FMR LLC raised its stake in Thermo Fisher Scientific by 11.3% in the second quarter. FMR LLC now owns 8,216,645 shares of the company’s stock worth $1,214,093,000 after buying an additional 834,858 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Thermo Fisher Scientific by 72.3% in the first quarter. JPMorgan Chase & Co. now owns 1,953,935 shares of the company’s stock worth $276,658,000 after buying an additional 820,110 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.
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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