Thermo Fisher Scientific (TMO) Upgraded to Buy at Zacks Investment Research
Thermo Fisher Scientific (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $240.00 price objective on the medical research company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.70% from the company’s current price.
According to Zacks, “Over the past three months, Thermo Fisher has been outperforming its broader industry. Post a promising fourth-quarter show by Thermo Fisher, we are encouraged by the company’s solid international performance with strong growth in the Asia-Pacific and the emerging markets. Also, a series of product launches along with major progress in precision medicine initiatives benefited the company’s performance. Thermo Fisher’s FEI acquisition has already started to boost analytical instruments portfolio. Also in 2017, the company deployed $7.8 billion on strategic acquisitions, adding leading biopharma contract development and manufacturing services through Patheon. On the flip side, in the reported quarter, the company’s business segments were impacted by strategic investments and unfavorable business mix. Also, competitive headwinds and rising operating costs continue to pose a threat.”
Several other equities research analysts have also recently weighed in on the stock. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America upped their price objective on shares of Thermo Fisher Scientific from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $223.00 to $227.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Barclays upped their price objective on shares of Thermo Fisher Scientific from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Leerink Swann restated an “outperform” rating and issued a $239.00 price objective (up from $200.00) on shares of Thermo Fisher Scientific in a report on Thursday, February 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $222.29.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, January 31st. The medical research company reported $2.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.13. The business had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Thermo Fisher Scientific had a net margin of 10.64% and a return on equity of 16.01%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.41 EPS. equities research analysts expect that Thermo Fisher Scientific will post 10.81 earnings per share for the current fiscal year.
In related news, insider Patrick M. Durbin sold 6,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $217.55, for a total value of $1,305,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory J. Herrema sold 33,327 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $219.70, for a total transaction of $7,321,941.90. Following the completion of the transaction, the senior vice president now owns 60,471 shares of the company’s stock, valued at $13,285,478.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,827 shares of company stock valued at $10,606,272. 0.49% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Chemical Bank increased its stake in shares of Thermo Fisher Scientific by 17.4% in the 4th quarter. Chemical Bank now owns 14,485 shares of the medical research company’s stock worth $2,751,000 after acquiring an additional 2,148 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Thermo Fisher Scientific by 16.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 12,330 shares of the medical research company’s stock worth $2,341,000 after acquiring an additional 1,737 shares in the last quarter. D.B. Root & Company LLC bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth about $213,000. KCM Investment Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 28.8% in the 4th quarter. KCM Investment Advisors LLC now owns 3,883 shares of the medical research company’s stock worth $737,000 after acquiring an additional 869 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Thermo Fisher Scientific by 6.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 85,954 shares of the medical research company’s stock worth $16,321,000 after acquiring an additional 5,509 shares in the last quarter. Institutional investors own 87.63% of the company’s stock.
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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.
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