Zacks Investment Research upgraded shares of Thermo Fisher Scientific Inc. (NYSE:TMO) from a hold rating to a buy rating in a report published on Thursday. They currently have $172.00 price target on the stock.
According to Zacks, “We are looking forward to Thermo Fisher’s recently completed colossal $4.2 billion acquisition of FEI Company. The buyout is going to significantly facilitate the company’s performance in life-science research. We also await the integration and expected synergy of Affimetrix, another mega acquisition of Thermo Fisher, which is expected to boost its offering in the fast-growing flow cytometry market. We are also upbeat about the significant product launches by the company in the quarter along with strong growth in emerging markets and an enhancement in the company’s customer value proposition. The company also deployed $1 billion of capital for share buybacks earlier this year. This in turn reflects the company’s strong cash position.”
Several other equities research analysts have also recently issued reports on the stock. Bank of America Corp. set a $180.00 price target on shares of Thermo Fisher Scientific and gave the stock a buy rating in a research note on Friday, October 7th. JPMorgan Chase & Co. began coverage on shares of Thermo Fisher Scientific in a report on Thursday, September 22nd. They set an overweight rating and a $180.00 price objective on the stock. Cleveland Research lowered shares of Thermo Fisher Scientific from a buy rating to a neutral rating in a report on Friday, September 9th. Jefferies Group reiterated a hold rating on shares of Thermo Fisher Scientific in a report on Thursday, August 4th. Finally, Citigroup Inc. increased their price objective on shares of Thermo Fisher Scientific from $160.00 to $182.00 and gave the stock a buy rating in a report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $162.37.
Thermo Fisher Scientific (NYSE:TMO) opened at 150.78 on Thursday. Thermo Fisher Scientific has a 12-month low of $119.75 and a 12-month high of $160.68. The firm has a market cap of $59.45 billion, a PE ratio of 30.16 and a beta of 0.97. The firm’s 50-day moving average is $153.47 and its 200 day moving average is $151.24.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, July 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.02. Thermo Fisher Scientific had a net margin of 11.35% and a return on equity of 14.70%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period last year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific will post $8.17 EPS for the current year.
In other news, insider Thomas W. Loewald sold 913 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $151.92, for a total transaction of $138,702.96. Following the completion of the sale, the insider now owns 39,983 shares of the company’s stock, valued at $6,074,217.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $151.17, for a total transaction of $4,535,100.00. Following the sale, the chief executive officer now directly owns 308,647 shares of the company’s stock, valued at approximately $46,658,166.99. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in Thermo Fisher Scientific during the second quarter worth approximately $200,618,000. Wellington Management Group LLP increased its position in Thermo Fisher Scientific by 26.0% in the first quarter. Wellington Management Group LLP now owns 6,135,669 shares of the company’s stock worth $868,749,000 after buying an additional 1,267,967 shares in the last quarter. Sound Shore Management Inc. CT increased its position in Thermo Fisher Scientific by 123.5% in the second quarter. Sound Shore Management Inc. CT now owns 2,204,253 shares of the company’s stock worth $138,096,000 after buying an additional 1,217,950 shares in the last quarter. Tesco Pension Investment Ltd acquired a new position in Thermo Fisher Scientific during the third quarter worth approximately $137,726,000. Finally, FMR LLC increased its position in Thermo Fisher Scientific by 11.3% in the second quarter. FMR LLC now owns 8,216,645 shares of the company’s stock worth $1,214,093,000 after buying an additional 834,858 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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