Thermo Fisher Scientific Inc (TMO) Downgraded by Zacks Investment Research
Thermo Fisher Scientific Inc (NYSE:TMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
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 research firms also recently issued reports on TMO. Cowen and Company reaffirmed an “outperform” rating and issued a $220.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Sunday, September 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. Bank of America Corporation reaffirmed a “buy” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Barclays PLC reissued an “overweight” rating and set a $200.00 target price (up previously from $190.00) on shares of Thermo Fisher Scientific in a research report on Monday, July 17th. Finally, Cleveland Research raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research report on Thursday, July 20th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $193.56.
Thermo Fisher Scientific (NYSE:TMO) traded up 0.41% on Monday, hitting $191.42. 292,438 shares of the company traded hands. The firm has a market capitalization of $74.68 billion, a PE ratio of 33.35 and a beta of 1.05. Thermo Fisher Scientific has a 1-year low of $139.07 and a 1-year high of $194.30. The firm’s 50 day moving average price is $180.21 and its 200 day moving average price is $170.53.
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. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the previous year, the firm earned $2.03 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific will post $9.35 EPS for the current fiscal year.
In other Thermo Fisher Scientific news, VP Peter E. Hornstra sold 3,894 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $185.18, for a total transaction of $721,090.92. Following the transaction, the vice president now owns 19,751 shares in the company, valued at $3,657,490.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Seth H. Hoogasian sold 4,140 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $177.80, for a total value of $736,092.00. Following the transaction, the vice president now owns 25,518 shares in the company, valued at approximately $4,537,100.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,738 shares of company stock valued at $4,021,512. 0.49% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Proficio Capital Partners LLC lifted its position in shares of Thermo Fisher Scientific by 71.5% in the first quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after acquiring an additional 253 shares in the last quarter. Cribstone Capital Management LLC lifted its position in Thermo Fisher Scientific by 8.7% during the second quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock worth $109,000 after buying an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Thermo Fisher Scientific during the second quarter worth approximately $113,000. Chicago Partners Investment Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter worth approximately $108,000. Finally, CWM LLC lifted its position in Thermo Fisher Scientific by 17.0% during the second quarter. CWM LLC now owns 710 shares of the medical research company’s stock worth $124,000 after buying an additional 103 shares in the last quarter. Institutional investors own 83.36% 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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