Thermo Fisher Scientific (TMO) Cut to “Sell” at Zacks Investment Research
Thermo Fisher Scientific (NYSE:TMO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “Post a promising third-quarter 2017 performance we are encouraged by Thermo Fisher’s series of product launches along with progress in precision medicine initiatives. At the same time, we are upbeat about Thermo Fisher recently completing the acquisition of Phenom-World. Moreover, 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 past six months, Thermo Fisher is trading above the broader industry. On the flip side, competitive headwinds and rising operating costs continue to pose a threat on the stock's value.”
A number of other research analysts also recently commented on the company. BTIG Research began coverage on Thermo Fisher Scientific in a report on Friday, January 5th. They set a “buy” rating and a $230.00 target price on the stock. Evercore ISI began coverage on Thermo Fisher Scientific in a report on Wednesday, January 3rd. They set an “outperform” rating and a $220.00 target price on the stock. Leerink Swann reaffirmed an “outperform” rating and set a $200.00 target price (down previously from $216.00) on shares of Thermo Fisher Scientific in a report on Monday, December 4th. Deutsche Bank set a $226.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $195.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific presently has an average rating of “Buy” and an average target price of $212.21.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 25th. The medical research company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.07. Thermo Fisher Scientific had a return on equity of 9.09% and a net margin of 10.44%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the business posted $2.03 EPS. Thermo Fisher Scientific’s quarterly revenue was up 13.9% compared to the same quarter last year. analysts anticipate that Thermo Fisher Scientific will post 9.36 earnings per share for the current fiscal year.
In other news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $191.74, for a total transaction of $9,587,000.00. Following the sale, the chief executive officer now directly owns 302,577 shares in the company, valued at approximately $58,016,113.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Bank of Nova Scotia Trust Co. acquired a new stake in Thermo Fisher Scientific in the 3rd quarter valued at approximately $106,000. Chicago Partners Investment Group LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at approximately $108,000. Shine Investment Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at approximately $113,000. Ropes Wealth Advisors LLC increased its position in Thermo Fisher Scientific by 15.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after acquiring an additional 97 shares during the period. Finally, Atlantic Trust LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at approximately $138,000. Institutional investors and hedge funds own 86.22% 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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