Thermo Fisher Scientific Inc (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $212.00 price target on the medical research company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.59% from the company’s previous close.

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.”

TMO has been the topic of several other research reports. Cleveland Research raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. 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. Morgan Stanley reissued an “overweight” rating and set a $220.00 target price on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. BidaskClub lowered Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Citigroup Inc. reissued a “buy” rating and set a $201.00 target price (up previously from $182.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 10th. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $194.33.

Shares of Thermo Fisher Scientific (TMO) opened at 188.30 on Thursday. The company has a market capitalization of $73.46 billion, a P/E ratio of 32.80 and a beta of 1.05. The stock’s 50 day moving average price is $181.07 and its 200 day moving average price is $171.15. Thermo Fisher Scientific has a 52-week low of $139.07 and a 52-week high of $194.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the prior year, the company earned $2.03 EPS. Thermo Fisher Scientific’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Thermo Fisher Scientific will post $9.35 earnings per share for the current fiscal year.

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In other news, VP Peter E. Hornstra sold 3,894 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $185.18, for a total value of $721,090.92. Following the transaction, the vice president now owns 19,751 shares in the company, valued at approximately $3,657,490.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Seth H. Hoogasian sold 4,140 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $177.80, for a total value of $736,092.00. Following the completion of the transaction, the vice president now owns 25,518 shares in the company, valued at approximately $4,537,100.40. The disclosure for this sale can be found here. Insiders sold a total of 52,738 shares of company stock worth $9,302,112 in the last ninety days. 0.49% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sharkey Howes & Javer increased its holdings in shares of Thermo Fisher Scientific by 1.0% in the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock valued at $113,000 after acquiring an additional 7 shares during the last quarter. Beacon Trust Co. increased its holdings in shares of Thermo Fisher Scientific by 0.6% in the 1st quarter. Beacon Trust Co. now owns 2,159 shares of the medical research company’s stock valued at $341,000 after acquiring an additional 12 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 0.3% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 5,526 shares of the medical research company’s stock valued at $849,000 after acquiring an additional 15 shares during the last quarter. Reinhart Partners Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.6% in the 2nd quarter. Reinhart Partners Inc. now owns 3,430 shares of the medical research company’s stock valued at $598,000 after acquiring an additional 20 shares during the last quarter. Finally, Covington Capital Management increased its holdings in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Covington Capital Management now owns 2,144 shares of the medical research company’s stock valued at $374,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

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.

Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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