Thermo Fisher Scientific Inc (TMO) Rating Reiterated by Cowen and Company
Thermo Fisher Scientific Inc (NYSE:TMO)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a research note issued on Sunday. They presently have a $220.00 target price on the medical research company’s stock, up from their prior target price of $200.00. Cowen and Company’s target price would suggest a potential upside of 13.65% from the company’s previous close.
Several other research analysts have also commented on the stock. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $208.00 price objective for the company in a research note on Thursday, September 7th. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. Argus reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, August 22nd. They noted that the move was a valuation call. BidaskClub cut shares of Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $210.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. One investment analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Thermo Fisher Scientific has an average rating of “Buy” and a consensus price target of $193.19.
Shares of Thermo Fisher Scientific (NYSE TMO) opened at 193.57 on Friday. Thermo Fisher Scientific has a 12-month low of $139.07 and a 12-month high of $193.67. The company has a market cap of $75.52 billion, a price-to-earnings ratio of 33.72 and a beta of 1.05. The stock has a 50 day moving average of $178.20 and a 200 day moving average of $169.56.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific will post $9.35 earnings per share for the current year.
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In other Thermo Fisher Scientific news, VP Seth H. Hoogasian sold 4,140 shares of the firm’s 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 of the company’s stock, valued at $4,537,100.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jim P. Manzi sold 11,318 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $172.94, for a total transaction of $1,957,334.92. Following the sale, the director now directly owns 38,757 shares in the company, valued at approximately $6,702,635.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,738 shares of company stock worth $4,021,512. 0.49% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its holdings in Thermo Fisher Scientific by 71.5% during the first quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock worth $105,000 after purchasing an additional 253 shares in the last quarter. Cribstone Capital Management LLC raised its holdings in Thermo Fisher Scientific by 8.7% during the second quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock worth $109,000 after purchasing an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $113,000. Chicago Partners Investment Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $108,000. Finally, CWM LLC increased its holdings in shares of Thermo Fisher Scientific by 17.0% in the 2nd quarter. CWM LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after acquiring an additional 103 shares during the period. 83.52% of the stock is currently owned by institutional investors.
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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