Thermo Fisher Scientific Inc. (TMO) Upgraded by Zacks Investment Research to Buy
Thermo Fisher Scientific Inc. (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $172.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.83% from the company’s current price.
According to Zacks, “We are looking forward to Thermo Fisher’s recently completed colossal $4.2 billion acquisition of FEI Company. The buyout is going to significantly facilitate the company’s performance in life-science research. We also await the integration and expected synergy of Affimetrix, another mega acquisition of Thermo Fisher, which is expected to boost its offering in the fast-growing flow cytometry market. We are also upbeat about the significant product launches by the company in the quarter along with strong growth in emerging markets and an enhancement in the company’s customer value proposition. The company also deployed $1 billion of capital for share buybacks earlier this year. This in turn reflects the company’s strong cash position.”
Other equities research analysts also recently issued research reports about the company. Jefferies Group reissued a “hold” rating on shares of Thermo Fisher Scientific in a research report on Thursday, August 4th. BTIG Research upgraded Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Friday, July 22nd. Goldman Sachs Group Inc. restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, July 6th. Mizuho set a $175.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. upped their target price 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. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $162.37.
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Thermo Fisher Scientific (NYSE:TMO) opened at 153.80 on Thursday. The company has a market cap of $60.64 billion, a PE ratio of 30.77 and a beta of 0.97. The company’s 50-day moving average price is $153.48 and its 200 day moving average price is $150.92. Thermo Fisher Scientific has a 52 week low of $119.75 and a 52 week high of $160.68.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.02. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.50 billion. Thermo Fisher Scientific had a return on equity of 14.70% and a net margin of 11.35%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 earnings per share. On average, analysts anticipate that Thermo Fisher Scientific will post $8.17 EPS for the current year.
In other Thermo Fisher Scientific news, VP Seth H. Hoogasian sold 5,023 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $156.00, for a total transaction of $783,588.00. Following the completion of the sale, the vice president now directly owns 31,914 shares in the company, valued at approximately $4,978,584. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director C Martin Harris sold 390 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $157.33, for a total value of $61,358.70. Following the sale, the director now owns 4,648 shares of the company’s stock, valued at $731,269.84. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. increased its stake in shares of Thermo Fisher Scientific by 567.4% in the first quarter. Meeder Asset Management Inc. now owns 6,674 shares of the company’s stock valued at $945,000 after buying an additional 5,674 shares in the last quarter. Kings Point Capital Management increased its stake in shares of Thermo Fisher Scientific by 4.0% in the first quarter. Kings Point Capital Management now owns 62,396 shares of the company’s stock valued at $8,835,000 after buying an additional 2,386 shares in the last quarter. BB&T Securities LLC increased its stake in shares of Thermo Fisher Scientific by 264.1% in the first quarter. BB&T Securities LLC now owns 75,191 shares of the company’s stock valued at $10,646,000 after buying an additional 54,541 shares in the last quarter. Credit Agricole S A increased its stake in shares of Thermo Fisher Scientific by 0.5% in the first quarter. Credit Agricole S A now owns 245,681 shares of the company’s stock valued at $34,786,000 after buying an additional 1,279 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Thermo Fisher Scientific by 1.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,460 shares of the company’s stock valued at $3,888,000 after buying an additional 455 shares in the last quarter. Hedge funds and other 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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