Thermo Fisher Scientific Inc (TMO) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Thermo Fisher Scientific Inc (NYSE:TMO) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $208.00 price target on the medical research company’s stock.
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 brokerages have also recently commented on TMO. Cowen and Company restated a buy rating and set a $200.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 1st. Morgan Stanley restated an overweight rating and set a $220.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday. Bank of America Corporation restated a buy rating and set a $210.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Barclays PLC restated an overweight rating and set a $200.00 price target (up from $190.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 17th. Finally, Cleveland Research upgraded shares of Thermo Fisher Scientific from a neutral rating to a buy rating in a research note on Thursday, July 20th. One research analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $191.94.
Shares of Thermo Fisher Scientific (TMO) traded up 0.58% on Thursday, hitting $191.70. 1,186,747 shares of the stock traded hands. Thermo Fisher Scientific has a 52 week low of $139.07 and a 52 week high of $192.28. The stock has a 50 day moving average price of $178.02 and a 200-day moving average price of $169.16. The stock has a market cap of $74.79 billion, a price-to-earnings ratio of 33.40 and a beta of 1.05.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.03 earnings per share. On average, equities research analysts forecast that Thermo Fisher Scientific will post $9.35 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.
In other news, VP Seth H. Hoogasian sold 4,140 shares of the stock in a transaction on Monday, August 28th. The shares were 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 of the company’s stock, valued at approximately $4,537,100.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Peter E. Hornstra sold 3,894 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 19,751 shares in the company, valued at approximately $3,657,490.18. The disclosure for this sale can be found here. Insiders have sold a total of 22,738 shares of company stock worth $4,021,512 in the last ninety days. 0.49% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of TMO. BlackRock Inc. increased its holdings in shares of Thermo Fisher Scientific by 2,692.1% in the 1st quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock worth $3,531,095,000 after buying an additional 22,165,530 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Thermo Fisher Scientific by 29.8% in the 2nd quarter. Capital Research Global Investors now owns 17,304,897 shares of the medical research company’s stock worth $3,019,185,000 after buying an additional 3,973,136 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Thermo Fisher Scientific by 2,058.1% in the 2nd quarter. Janus Henderson Group PLC now owns 2,342,046 shares of the medical research company’s stock worth $408,620,000 after buying an additional 2,233,522 shares during the last quarter. C WorldWide Group Holding A S increased its holdings in shares of Thermo Fisher Scientific by 997.1% in the 1st quarter. C WorldWide Group Holding A S now owns 1,950,049 shares of the medical research company’s stock worth $299,527,000 after buying an additional 1,772,300 shares during the last quarter. Finally, Veritas Asset Management LLP increased its holdings in shares of Thermo Fisher Scientific by 112.4% in the 2nd quarter. Veritas Asset Management LLP now owns 2,430,759 shares of the medical research company’s stock worth $424,095,000 after buying an additional 1,286,259 shares during the last quarter. 83.52% of the stock is currently owned by hedge funds and other institutional investors.
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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