Thermo Fisher Scientific Inc (TMO) Lifted to “Buy” at 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 note issued to investors on Thursday. The brokerage presently has a $214.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.77% from the company’s current price.
According to Zacks, “Over the last three months, Thermo Fisher is trading above the broader industry. Thermo Fisher ended the second quarter on a promising note. We are particularly upbeat about the company gaining entry into the CDMO market through the recent acquistion of Patheon for $7.2 billion. We are also encouraged by the company’s series of product launches along with major progress in precision medicine initiatives. Thermo Fisher’s acquisition of FEI Company has already started to boost its analytical instruments portfolio. The company also opened Center of Excellence for electron microscopy in Saudi Arabia. The raised 2017 guidance is all the more encouraging indicating the fact that this overall bullish trend will continue through the year.”
A number of other analysts have also weighed in on TMO. Cowen and Company reaffirmed an “outperform” rating and issued a $220.00 price objective (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Sunday. Deutsche Bank AG set a $200.00 price objective on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Saturday, June 10th. BidaskClub lowered shares of Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Barclays PLC reaffirmed an “overweight” rating and issued a $200.00 price objective (up from $190.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 17th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $200.00 price objective (up from $195.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 13th. One research analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Thermo Fisher Scientific has a consensus rating of “Buy” and a consensus price target of $193.56.
Shares of Thermo Fisher Scientific (NYSE:TMO) traded up 0.0378% on Thursday, reaching $191.3920. 673,103 shares of the company were exchanged. The company has a market capitalization of $74.67 billion, a price-to-earnings ratio of 33.3436 and a beta of 1.05. The company’s 50-day moving average is $178.97 and its 200-day moving average is $169.99. Thermo Fisher Scientific has a 52 week low of $139.07 and a 52 week high of $194.30.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 earnings per share. On average, equities analysts expect that Thermo Fisher Scientific will post $9.34 EPS for the current fiscal year.
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In related news, Director Jim P. Manzi sold 11,318 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $172.94, for a total value of $1,957,334.92. Following the transaction, the director now owns 38,757 shares in the company, valued at approximately $6,702,635.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jim P. Manzi sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $175.20, for a total transaction of $175,200.00. Following the completion of the transaction, the director now owns 38,757 shares in the company, valued at approximately $6,790,226.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,738 shares of company stock worth $4,021,512. 0.49% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Perigon Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 1.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 31,251 shares of the medical research company’s stock worth $5,457,000 after buying an additional 397 shares during the period. Intl Fcstone Inc. acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $276,000. Griffin Asset Management Inc. acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $209,000. Gs Investments Inc. acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $3,260,000. Finally, Hall Laurie J Trustee increased its holdings in Thermo Fisher Scientific by 4.6% in the 2nd quarter. Hall Laurie J Trustee now owns 2,851 shares of the medical research company’s stock worth $497,000 after buying an additional 125 shares during the period. Institutional investors own 83.52% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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