Thermo Fisher Scientific Inc. (TMO) Upgraded to Buy by Zacks Investment Research
Thermo Fisher Scientific Inc. (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $172.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 11.83% from the stock’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 have also recently issued research reports about the stock. Jefferies Group restated a “hold” rating on shares of Thermo Fisher Scientific in a research report on Thursday, August 4th. BTIG Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Friday, July 22nd. Goldman Sachs Group Inc. restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Wednesday, July 6th. Mizuho set a $175.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Citigroup Inc. boosted their price target on shares of Thermo Fisher Scientific from $160.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $162.37.
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Thermo Fisher Scientific (NYSE:TMO) opened at 153.80 on Thursday. The stock has a 50 day moving average of $153.48 and a 200-day moving average of $150.92. The company has a market cap of $60.64 billion, a price-to-earnings ratio of 30.77 and a beta of 0.97. Thermo Fisher Scientific has a one year low of $119.75 and a one year high of $160.68.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, July 28th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $2.01 by $0.02. Thermo Fisher Scientific had a net margin of 11.35% and a return on equity of 14.70%. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts predict that Thermo Fisher Scientific will post $8.17 EPS for the current fiscal year.
In related news, VP Seth H. Hoogasian sold 5,023 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $156.00, for a total value of $783,588.00. Following the completion of the sale, the vice president now directly owns 31,914 shares of the company’s stock, valued at $4,978,584. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $151.17, for a total transaction of $4,535,100.00. Following the completion of the sale, the chief executive officer now directly owns 308,647 shares of the company’s stock, valued at $46,658,166.99. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 1.6% in the second quarter. Mycio Wealth Partners LLC now owns 711 shares of the company’s stock valued at $105,000 after buying an additional 11 shares during the last quarter. Signaturefd LLC raised its stake in Thermo Fisher Scientific by 10.6% in the second quarter. Signaturefd LLC now owns 842 shares of the company’s stock valued at $124,000 after buying an additional 81 shares during the last quarter. Cedar Wealth Management LLC raised its stake in Thermo Fisher Scientific by 33.0% in the second quarter. Cedar Wealth Management LLC now owns 1,377 shares of the company’s stock valued at $203,000 after buying an additional 342 shares during the last quarter. Bridgeway Capital Management Inc. purchased a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $207,000. Finally, Summit Financial Wealth Advisors LLC purchased a new stake in Thermo Fisher Scientific during the third quarter valued at approximately $231,000. 87.38% of the stock is owned by institutional investors.
About Thermo Fisher Scientific
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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