Zacks Investment Research upgraded shares of Thermo Fisher Scientific (NYSE:TMO) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $228.00 price objective on the medical research company’s stock.
According to Zacks, “Over the past year, 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 research firms have also recently commented on TMO. Morgan Stanley raised their target price on Thermo Fisher Scientific from $223.00 to $227.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Barclays raised their price objective on Thermo Fisher Scientific from $225.00 to $245.00 and gave the company an overweight rating in a research note on Thursday, February 1st. Leerink Swann reissued an outperform rating and issued a $239.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Thursday, February 1st. They noted that the move was a valuation call. ValuEngine raised Thermo Fisher Scientific from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, Bank of America raised their price objective on Thermo Fisher Scientific from $235.00 to $250.00 and gave the company a buy rating in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Thermo Fisher Scientific presently has an average rating of Buy and an average price target of $221.43.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, January 31st. The medical research company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.66 by $0.13. Thermo Fisher Scientific had a return on equity of 16.01% and a net margin of 10.64%. The business had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the firm posted $2.41 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. research analysts predict that Thermo Fisher Scientific will post 10.83 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.15. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 7.17%.
In other news, SVP Gregory J. Herrema sold 33,327 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $219.70, for a total value of $7,321,941.90. Following the transaction, the senior vice president now owns 60,471 shares in the company, valued at $13,285,478.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $210.16, for a total value of $8,406,400.00. Following the completion of the transaction, the chief executive officer now owns 334,622 shares in the company, valued at approximately $70,324,159.52. The disclosure for this sale can be found here. Insiders sold 88,827 shares of company stock worth $19,012,672 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.
Several hedge funds have recently bought and sold shares of TMO. Schroder Investment Management Group lifted its holdings in Thermo Fisher Scientific by 28.1% during the fourth quarter. Schroder Investment Management Group now owns 1,103,685 shares of the medical research company’s stock worth $209,568,000 after acquiring an additional 242,062 shares during the period. Americafirst Capital Management LLC bought a new stake in Thermo Fisher Scientific during the third quarter worth $876,000. Rockland Trust Co. lifted its holdings in Thermo Fisher Scientific by 7.3% during the fourth quarter. Rockland Trust Co. now owns 62,332 shares of the medical research company’s stock worth $11,836,000 after acquiring an additional 4,221 shares during the period. Barrett Asset Management LLC lifted its holdings in Thermo Fisher Scientific by 7.8% during the third quarter. Barrett Asset Management LLC now owns 101,620 shares of the medical research company’s stock worth $19,227,000 after acquiring an additional 7,335 shares during the period. Finally, Swiss National Bank lifted its holdings in Thermo Fisher Scientific by 2.2% during the fourth quarter. Swiss National Bank now owns 1,476,432 shares of the medical research company’s stock worth $280,345,000 after acquiring an additional 31,800 shares during the period. Institutional investors own 87.67% of the company’s stock.
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About Thermo Fisher Scientific
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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