Thermo Fisher Scientific (TMO) Rating Increased to Hold at Zacks Investment Research

Thermo Fisher Scientific (NYSE:TMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.

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.”

Several other brokerages have also recently weighed in on TMO. Leerink Swann raised their target price on shares of Thermo Fisher Scientific from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Monday, October 9th. Deutsche Bank set a $226.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, October 26th. Barclays reaffirmed an “overweight” rating and issued a $215.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a report on Monday, September 25th. Evercore ISI assumed coverage on shares of Thermo Fisher Scientific in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $220.00 target price on the stock. Finally, Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, September 26th. They set a “buy” rating and a $225.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $212.21.

Shares of Thermo Fisher Scientific (TMO) traded up $1.10 during trading hours on Friday, reaching $213.51. 1,434,437 shares of the company traded hands, compared to its average volume of 1,141,665. The firm has a market capitalization of $85,175.43, a PE ratio of 36.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06. Thermo Fisher Scientific has a 52-week low of $140.00 and a 52-week high of $214.57. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.85.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.07. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.03 earnings per share. research analysts predict that Thermo Fisher Scientific will post 9.36 EPS for the current fiscal year.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were 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 owns 302,577 shares of the company’s stock, valued at $58,016,113.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.49% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Covington Capital Management grew its position in shares of Thermo Fisher Scientific by 0.9% during the second quarter. Covington Capital Management now owns 2,144 shares of the medical research company’s stock worth $374,000 after acquiring an additional 20 shares during the last quarter. Investment Centers of America Inc. grew its position in shares of Thermo Fisher Scientific by 1.6% during the second quarter. Investment Centers of America Inc. now owns 1,317 shares of the medical research company’s stock worth $230,000 after acquiring an additional 21 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of Thermo Fisher Scientific by 0.4% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 6,250 shares of the medical research company’s stock worth $1,090,000 after acquiring an additional 23 shares during the last quarter. Bienville Capital Management LLC grew its position in shares of Thermo Fisher Scientific by 1.6% during the second quarter. Bienville Capital Management LLC now owns 1,687 shares of the medical research company’s stock worth $295,000 after acquiring an additional 27 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of Thermo Fisher Scientific by 1.0% during the second quarter. Savant Capital LLC now owns 2,793 shares of the medical research company’s stock worth $487,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.

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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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