Thermo Fisher Scientific (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $240.00 target price on the medical research company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.70% from the stock’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.”
A number of other analysts have also weighed in on TMO. Morgan Stanley upped their target price 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. Leerink Swann reaffirmed an “outperform” rating and set a $239.00 target price (up previously 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. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Barclays upped their target price 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, BTIG Research began coverage on shares of Thermo Fisher Scientific in a report on Friday, January 5th. They set a “buy” rating and a $230.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $222.29.
Shares of Thermo Fisher Scientific stock opened at $212.96 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.92 and a current ratio of 1.34. The firm has a market cap of $86,271.08, a P/E ratio of 38.03, a P/E/G ratio of 1.57 and a beta of 1.15. Thermo Fisher Scientific has a twelve month low of $151.74 and a twelve month high of $226.44.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, January 31st. The medical research company reported $2.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.13. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.72 billion. Thermo Fisher Scientific had a net margin of 10.64% and a return on equity of 16.01%. Thermo Fisher Scientific’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 EPS. analysts forecast that Thermo Fisher Scientific will post 10.81 earnings per share for the current fiscal year.
In other Thermo Fisher Scientific news, SVP Gregory J. Herrema sold 33,327 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $219.70, for a total value 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 approximately $13,285,478.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $204.60, for a total transaction of $511,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 48,827 shares of company stock valued at $10,606,272. Corporate insiders own 0.49% of the company’s stock.
Several institutional investors have recently made changes to their positions in TMO. Veritas Asset Management LLP boosted its stake in shares of Thermo Fisher Scientific by 44.1% in the 3rd quarter. Veritas Asset Management LLP now owns 3,503,259 shares of the medical research company’s stock valued at $662,817,000 after purchasing an additional 1,072,500 shares in the last quarter. Meritage Group LP purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $201,383,000. Viking Global Investors LP purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $154,660,000. Investec Asset Management LTD boosted its stake in shares of Thermo Fisher Scientific by 28.0% in the 3rd quarter. Investec Asset Management LTD now owns 2,173,381 shares of the medical research company’s stock valued at $411,204,000 after purchasing an additional 475,970 shares in the last quarter. Finally, Cornerstone Investment Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 89.8% in the 4th quarter. Cornerstone Investment Partners LLC now owns 802,374 shares of the medical research company’s stock valued at $152,355,000 after purchasing an additional 379,703 shares in the last quarter. 87.63% of the stock is owned by institutional investors.
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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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