Thermo Fisher Scientific (TMO) Upgraded at Zacks Investment Research
Thermo Fisher Scientific (NYSE:TMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Post a promising third-quarter 2017 performance we are encouraged by Thermo Fisher’s series of product launches along with progress in precision medicine initiatives. At the same time, we are upbeat about Thermo Fisher recently completing the acquisition of Phenom-World. Moreover, the newly-integrated FEI Company has already started to boost its analytical instruments arm. We are currently looking forward to Thermo Fisher gaining entry into the CDMO market through the recently-closed $7.2 billion acquisition of Patheon. The raised guidance is all the more impressive and indicative of this overall bullish trend to continue through 2017. Unfavorable macroeconomic conditions continue to weigh heavily on Thermo Fisher's stocks. Over the past six months, Thermo Fisher is trading above the broader industry. On the flip side, competitive headwinds and rising operating costs continue to pose a threat on the stock's value.”
A number of other brokerages also recently commented on TMO. Leerink Swann raised their target price on shares of Thermo Fisher Scientific from $190.00 to $207.00 and gave the company an “outperform” rating in a research note on Monday, October 9th. Deutsche Bank set a $226.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Thursday, October 26th. Barclays reaffirmed an “overweight” rating and set a $215.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Monday, September 25th. Evercore ISI assumed coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $220.00 price target on the stock. Finally, Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, September 26th. They set a “buy” rating and a $225.00 price target on the stock. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific has a consensus rating of “Buy” and an average target price of $212.21.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.31 EPS for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.07. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the firm posted $2.03 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities analysts forecast that Thermo Fisher Scientific will post 9.36 earnings per share for the current fiscal year.
In related news, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, December 15th. The shares were sold at an average price of $191.74, for a total transaction of $9,587,000.00. Following the sale, the chief executive officer now owns 302,577 shares of the company’s stock, valued at approximately $58,016,113.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.49% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TMO. Beach Investment Management LLC. grew its holdings in Thermo Fisher Scientific by 1,702.8% during the 2nd quarter. Beach Investment Management LLC. now owns 71,661 shares of the medical research company’s stock worth $12,503,000 after acquiring an additional 67,686 shares in the last quarter. Savant Capital LLC grew its holdings in Thermo Fisher Scientific by 1.0% during the 2nd quarter. Savant Capital LLC now owns 2,793 shares of the medical research company’s stock worth $487,000 after acquiring an additional 29 shares in the last quarter. Dupont Capital Management Corp grew its holdings in Thermo Fisher Scientific by 17.8% during the 2nd quarter. Dupont Capital Management Corp now owns 13,081 shares of the medical research company’s stock worth $2,282,000 after acquiring an additional 1,978 shares in the last quarter. LMR Partners LLP acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth $2,026,000. Finally, Fiduciary Financial Services of The Southwest Inc. TX grew its holdings in Thermo Fisher Scientific by 1.6% during the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 31,364 shares of the medical research company’s stock worth $5,472,000 after acquiring an additional 496 shares in the last quarter. 86.25% of the stock is owned by institutional investors.
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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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