Zacks Investment Research Downgrades Thermo Fisher Scientific (TMO) to Hold
According to Zacks, “Thermo Fisher ended first quarter 2019 with adjusted earnings and revenues surpassing the consensus mark. The company is demonstrating strength in all end markets categorized by customer type or geography. In the quarter, the company registered solid international performance with strong growth in Asia-Pacific including China. Also, a series of product launches aided its performance. We are looking forward to the company’s recent purchase of Brammer Bio in the field of Gene and Cell Therapy. This apart, the purchase of Gatan should boost electron microscopy suite. Even after considering the impact of impending divestiture of its Anatomical Pathology busiess, the company's 2019 guidance looks encouraging. Over the past three months, Thermo Fisher outperformed its industry. On the flip side, Thermo Fisher’s operating segments are getting impacted by unfavorable business mix. Competitive headwinds and escalating costs pose threat.”
Several other equities analysts have also commented on TMO. BTIG Research raised their price objective on Thermo Fisher Scientific to $290.00 and gave the company a buy rating in a research report on Thursday, January 31st. Robert W. Baird raised their price objective on Thermo Fisher Scientific from $264.00 to $270.00 and gave the company an outperform rating in a research report on Wednesday, January 30th. Barclays raised their price objective on Thermo Fisher Scientific from $295.00 to $300.00 and gave the company an overweight rating in a research report on Monday, March 18th. Deutsche Bank raised their price objective on Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a buy rating in a research report on Friday, March 22nd. Finally, UBS Group raised their price objective on Thermo Fisher Scientific to $305.00 and gave the company a buy rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $293.77.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.74 by $0.07. The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.04 billion. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. Sell-side analysts anticipate that Thermo Fisher Scientific will post 12.19 EPS for the current year.
In other news, CEO Marc N. Casper sold 50,713 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $273.21, for a total value of $13,855,298.73. Following the completion of the transaction, the chief executive officer now owns 302,193 shares of the company’s stock, valued at approximately $82,562,149.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Gregory J. Herrema sold 19,808 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $253.29, for a total value of $5,017,168.32. Following the completion of the transaction, the senior vice president now directly owns 25,688 shares of the company’s stock, valued at approximately $6,506,513.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,720 shares of company stock valued at $21,763,423. 0.45% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of TMO. Capital Financial Planning LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter worth about $27,000. Hanson McClain Inc. raised its position in Thermo Fisher Scientific by 263.9% in the 4th quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock worth $29,000 after buying an additional 95 shares during the last quarter. Truvestments Capital LLC purchased a new position in Thermo Fisher Scientific in the 1st quarter worth about $29,000. Capital Investment Advisory Services LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter worth about $35,000. Finally, Liberty Wealth Management LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter worth about $35,000. 88.39% of the stock is owned by hedge funds and other institutional investors.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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