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 report issued on Thursday. They currently have $172.00 price objective on the stock.
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 subject of a number of other research reports. Cleveland Research downgraded Thermo Fisher Scientific from a buy rating to a neutral rating in a research note on Friday, September 9th. Mizuho set a $175.00 price objective on Thermo Fisher Scientific and gave the company a buy rating in a research note on Thursday, July 28th. Bank of America Corp. set a $180.00 price objective on Thermo Fisher Scientific and gave the company a buy rating in a research note on Friday, October 7th. Goldman Sachs Group Inc. restated a buy rating on shares of Thermo Fisher Scientific in a research note on Wednesday, July 6th. Finally, JPMorgan Chase & Co. began coverage on Thermo Fisher Scientific in a research note on Thursday, September 22nd. They issued an overweight rating and a $180.00 price objective for the company. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Thermo Fisher Scientific has an average rating of Buy and an average target price of $162.37.
Thermo Fisher Scientific (NYSE:TMO) traded down 0.04% on Thursday, reaching $151.97. The company had a trading volume of 365,738 shares. Thermo Fisher Scientific has a 12-month low of $119.75 and a 12-month high of $160.68. The stock’s 50-day moving average price is $153.50 and its 200-day moving average price is $150.93. The stock has a market capitalization of $59.92 billion, a P/E ratio of 30.40 and a beta of 0.97.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, July 28th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.02. The business earned $4.54 billion during the quarter, compared to analyst estimates of $4.50 billion. Thermo Fisher Scientific had a return on equity of 14.70% and a net margin of 11.35%. Thermo Fisher Scientific’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific will post $8.17 EPS for the current fiscal year.
In other Thermo Fisher Scientific news, Director C Martin Harris sold 390 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $157.33, for a total value of $61,358.70. Following the sale, the director now owns 4,648 shares of the company’s stock, valued at approximately $731,269.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas W. Loewald sold 913 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $151.92, for a total value of $138,702.96. Following the completion of the sale, the insider now directly owns 39,983 shares in the company, valued at approximately $6,074,217.36. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Mycio Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 1.6% in the second quarter. Mycio Wealth Partners LLC now owns 711 shares of the company’s stock worth $105,000 after buying an additional 11 shares in the last quarter. Signaturefd LLC boosted its position in shares of Thermo Fisher Scientific by 10.6% in the second quarter. Signaturefd LLC now owns 842 shares of the company’s stock worth $124,000 after buying an additional 81 shares in the last quarter. Cedar Wealth Management LLC boosted its position in shares of Thermo Fisher Scientific by 33.0% in the second quarter. Cedar Wealth Management LLC now owns 1,377 shares of the company’s stock worth $203,000 after buying an additional 342 shares in the last quarter. Bridgeway Capital Management Inc. purchased a new position in shares of Thermo Fisher Scientific during the second quarter worth $207,000. Finally, Summit Financial Wealth Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter worth $231,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.