Thermo Fisher Scientific Inc (TMO) Rating Lowered to Hold at 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 note issued to investors on Monday.
According to Zacks, “Thermo Fisher ended the third quarter on a promising note with both adjusted earnings and revenues beating the Zacks Consensus Estimate. We are encouraged by the company’s series of product launches along with major progress in precision medicine initiatives. The newly-integrated FEI Company has already started to boost its analytical instruments arm. We are currently looking forward to Thermo Fisher gaining entry into the CDMO market through the recently-closed $7.2 billion acquisition of Patheon. The raised guidance is all the more impressive and indicative of this overall bullish trend to continue through 2017. Unfavorable macroeconomic conditions continue to weigh heavily on Thermo Fisher's stocks. Over the last three months, Thermo Fisher is trading above the broader industry. On the flip side, competitive headwinds and currency fluctuations continue to pose a threat on the stock's value.”
TMO has been the subject of a number of other reports. Cowen and Company reissued an “outperform” rating and issued a $220.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Sunday, September 10th. Leerink Swann increased their price target on shares of Thermo Fisher Scientific from $190.00 to $207.00 and gave the stock an “outperform” rating in a research note on Monday, October 9th. Goldman Sachs Group, Inc. (The) started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, September 26th. They issued a “buy” rating and a $225.00 price target for the company. Deutsche Bank AG set a $226.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Thursday. Finally, BidaskClub upgraded shares of Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $205.50.
Shares of Thermo Fisher Scientific (NYSE:TMO) traded down 0.59% during mid-day trading on Monday, hitting $191.29. The stock had a trading volume of 859,224 shares. The firm has a market capitalization of $74.63 billion, a price-to-earnings ratio of 33.33 and a beta of 1.05. Thermo Fisher Scientific has a 1-year low of $139.07 and a 1-year high of $201.20. The stock’s 50-day moving average is $191.73 and its 200 day moving average is $178.12.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.07. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. Thermo Fisher Scientific’s revenue was up 13.9% on a year-over-year basis. Equities research analysts predict that Thermo Fisher Scientific will post $9.36 EPS for the current fiscal year.
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In other news, VP Seth H. Hoogasian sold 4,140 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $177.80, for a total transaction of $736,092.00. Following the sale, the vice president now owns 25,518 shares in the company, valued at $4,537,100.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Gregory J. Herrema sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $176.02, for a total transaction of $5,280,600.00. Following the sale, the senior vice president now owns 67,016 shares in the company, valued at approximately $11,796,156.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,738 shares of company stock worth $9,302,112. Corporate insiders own 0.49% of the company’s stock.
A number of hedge funds have recently modified their holdings of TMO. BlackRock Inc. boosted its holdings in Thermo Fisher Scientific by 2,692.1% in the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock worth $3,531,095,000 after purchasing an additional 22,165,530 shares during the last quarter. Capital Research Global Investors boosted its holdings in Thermo Fisher Scientific by 29.8% in the second quarter. Capital Research Global Investors now owns 17,304,897 shares of the medical research company’s stock worth $3,019,185,000 after purchasing an additional 3,973,136 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Thermo Fisher Scientific by 2,058.1% in the second quarter. Janus Henderson Group PLC now owns 2,342,046 shares of the medical research company’s stock worth $408,620,000 after purchasing an additional 2,233,522 shares during the last quarter. Veritas Asset Management LLP boosted its holdings in Thermo Fisher Scientific by 112.4% in the second quarter. Veritas Asset Management LLP now owns 2,430,759 shares of the medical research company’s stock worth $424,095,000 after purchasing an additional 1,286,259 shares during the last quarter. Finally, Harbour Capital Advisors LLC boosted its holdings in Thermo Fisher Scientific by 18,197.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,201,051 shares of the medical research company’s stock worth $6,884,000 after purchasing an additional 1,194,487 shares during the last quarter. Institutional investors own 83.61% of the company’s stock.
About Thermo Fisher Scientific
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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