Thermo Fisher Scientific Inc. (TMO) Upgraded to Buy by 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 research report issued on Thursday. The firm presently has a $172.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 11.83% from the stock’s previous close.
According to Zacks, “We are looking forward to Thermo Fisher’s recently completed colossal $4.2 billion acquisition of FEI Company. The buyout is going to significantly facilitate the company’s performance in life-science research. We also await the integration and expected synergy of Affimetrix, another mega acquisition of Thermo Fisher, which is expected to boost its offering in the fast-growing flow cytometry market. We are also upbeat about the significant product launches by the company in the quarter along with strong growth in emerging markets and an enhancement in the company’s customer value proposition. The company also deployed $1 billion of capital for share buybacks earlier this year. This in turn reflects the company’s strong cash position.”
TMO has been the topic of a number of other research reports. Cleveland Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Friday, September 9th. Bank of America Corp. set a $180.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Friday, October 7th. JPMorgan Chase & Co. initiated coverage on shares of Thermo Fisher Scientific in a report on Thursday, September 22nd. They set an “overweight” rating and a $180.00 price target on the stock. Citigroup Inc. lifted their price target on shares of Thermo Fisher Scientific from $160.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Mizuho set a $175.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific presently has an average rating of “Buy” and a consensus target price of $162.37.
Thermo Fisher Scientific (NYSE:TMO) opened at 153.80 on Thursday. Thermo Fisher Scientific has a 12-month low of $119.75 and a 12-month high of $160.68. The firm’s 50-day moving average price is $153.48 and its 200 day moving average price is $150.92. The firm has a market cap of $60.64 billion, a P/E ratio of 30.77 and a beta of 0.97.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, July 28th. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.02. Thermo Fisher Scientific had a net margin of 11.35% and a return on equity of 14.70%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter last year, the business posted $1.84 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts forecast that Thermo Fisher Scientific will post $8.17 earnings per share for the current fiscal year.
In related news, CEO Marc N. Casper sold 28,797 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $151.01, for a total transaction of $4,348,634.97. Following the transaction, the chief executive officer now directly owns 307,444 shares in the company, valued at $46,427,118.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Martin Harris sold 390 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $157.33, for a total transaction of $61,358.70. Following the transaction, the director now owns 4,648 shares in the company, valued at $731,269.84. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC boosted its position in Thermo Fisher Scientific by 1.6% in the second quarter. Mycio Wealth Partners LLC now owns 711 shares of the company’s stock valued at $105,000 after buying an additional 11 shares during the period. Signaturefd LLC boosted its position in Thermo Fisher Scientific by 10.6% in the second quarter. Signaturefd LLC now owns 842 shares of the company’s stock valued at $124,000 after buying an additional 81 shares during the period. Cedar Wealth Management LLC boosted its position in Thermo Fisher Scientific by 33.0% in the second quarter. Cedar Wealth Management LLC now owns 1,377 shares of the company’s stock valued at $203,000 after buying an additional 342 shares during the period. Bridgeway Capital Management Inc. purchased a new position in Thermo Fisher Scientific during the second quarter valued at $207,000. Finally, Summit Financial Wealth Advisors LLC purchased a new position in Thermo Fisher Scientific during the third quarter valued at $231,000. Institutional investors and hedge funds own 87.38% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Receive News & Stock Ratings for Thermo Fisher Scientific Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific Inc. and related stocks with our FREE daily email newsletter.