Thermo Fisher Scientific Inc (NYSE:TMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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.”

Several other research firms have also weighed in on TMO. Bank of America Corporation reissued a “buy” rating and set a $210.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Cowen and Company reissued an “outperform” rating and set a $220.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Sunday. Cantor Fitzgerald initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, May 18th. They set an “overweight” rating and a $194.00 price objective on the stock. BidaskClub lowered shares of Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Barclays PLC reissued an “overweight” rating and set a $200.00 price objective (up previously from $190.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 17th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Thermo Fisher Scientific has an average rating of “Buy” and an average price target of $193.19.

Shares of Thermo Fisher Scientific (NYSE:TMO) opened at 191.47 on Tuesday. The firm has a market cap of $74.70 billion, a price-to-earnings ratio of 33.36 and a beta of 1.05. Thermo Fisher Scientific has a 12-month low of $139.07 and a 12-month high of $194.30. The stock’s 50 day moving average is $178.97 and its 200-day moving average is $169.99.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, topping the 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 for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the firm earned $2.03 EPS. Thermo Fisher Scientific’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Thermo Fisher Scientific will post $9.35 EPS for the current fiscal year.

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In other news, Director Jim P. Manzi sold 11,318 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $172.94, for a total value of $1,957,334.92. Following the sale, the director now directly owns 38,757 shares in the company, valued at $6,702,635.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Seth H. Hoogasian sold 4,140 shares of Thermo Fisher Scientific 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 completion of the sale, the vice president now owns 25,518 shares in the company, valued at $4,537,100.40. The disclosure for this sale can be found here. Insiders sold 22,738 shares of company stock worth $4,021,512 over the last quarter. 0.49% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 2.4% in the second quarter. Vanguard Group Inc. now owns 26,600,394 shares of the medical research company’s stock valued at $4,640,970,000 after purchasing an additional 629,093 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Thermo Fisher Scientific by 1.6% in the second quarter. BlackRock Inc. now owns 23,355,469 shares of the medical research company’s stock valued at $4,074,828,000 after purchasing an additional 366,584 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Thermo Fisher Scientific by 29.8% in the second quarter. Capital Research Global Investors now owns 17,304,897 shares of the medical research company’s stock valued at $3,019,185,000 after purchasing an additional 3,973,136 shares during the last quarter. State Street Corp raised its holdings in shares of Thermo Fisher Scientific by 1.0% in the first quarter. State Street Corp now owns 16,085,954 shares of the medical research company’s stock valued at $2,470,802,000 after purchasing an additional 164,367 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Thermo Fisher Scientific by 6.1% in the second quarter. Capital World Investors now owns 11,759,734 shares of the medical research company’s stock valued at $2,051,721,000 after purchasing an additional 671,637 shares during the last quarter. Institutional investors own 83.52% of the company’s stock.

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.

Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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