Thermo Fisher Scientific (NYSE:TMO) Raised to Buy at Wall Street Zen

Thermo Fisher Scientific (NYSE:TMO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other research analysts also recently issued reports on TMO. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Barclays boosted their target price on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Evercore reaffirmed an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $520.80 on Friday. Thermo Fisher Scientific has a 52 week low of $385.46 and a 52 week high of $643.99. The firm has a 50 day moving average of $574.24 and a two-hundred day moving average of $548.38. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $193.47 billion, a PE ratio of 29.36, a P/E/G ratio of 3.01 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $6.10 earnings per share. On average, research analysts predict that Thermo Fisher Scientific will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This trade represents a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 91,358 shares of company stock worth $52,789,173. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. J. Stern & Co. LLP grew its position in Thermo Fisher Scientific by 58,006.4% in the 4th quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company’s stock valued at $18,258,082,000 after buying an additional 31,455,105 shares during the last quarter. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $2,264,615,000. Soundwatch Capital LLC purchased a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $807,713,000. Flossbach Von Storch SE raised its holdings in Thermo Fisher Scientific by 93.0% during the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after purchasing an additional 1,314,182 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in Thermo Fisher Scientific by 2,183.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,328,845 shares of the medical research company’s stock valued at $770,000,000 after purchasing an additional 1,270,643 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.