Thermo Fisher Scientific (TMO) Earns “Strong-Buy” Rating from Needham & Company LLC

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Thermo Fisher Scientific (NYSE:TMO)‘s stock had its “strong-buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday, Briefing.com Automated Import reports. They currently have a $315.00 target price on the medical research company’s stock, up from their prior target price of $313.00. Needham & Company LLC’s price objective indicates a potential upside of 18.01% from the company’s current price.

Several other analysts also recently weighed in on TMO. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $264.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, January 30th. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a report on Tuesday, April 9th. UBS Group boosted their target price on Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. BTIG Research boosted their target price on Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a report on Thursday. Finally, Deutsche Bank boosted their target price on Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $295.92.

NYSE TMO traded down $4.73 during trading on Thursday, reaching $266.93. 439,823 shares of the company’s stock were exchanged, compared to its average volume of 1,565,070. The company has a market capitalization of $106.14 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.69 and a quick ratio of 1.16. Thermo Fisher Scientific has a 1 year low of $202.83 and a 1 year high of $282.98.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.07. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the previous year, the business earned $2.50 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific will post 12.2 earnings per share for the current year.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,713 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $273.21, for a total transaction of $13,855,298.73. Following the sale, the chief executive officer now owns 302,193 shares in the company, valued at approximately $82,562,149.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $266.00, for a total value of $665,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,320 shares of company stock worth $20,405,269. Insiders own 0.45% of the company’s stock.

Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its stake in shares of Thermo Fisher Scientific by 44,296.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,565,960 shares of the medical research company’s stock worth $87,000 after purchasing an additional 19,521,889 shares during the period. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $946,280,000. FMR LLC lifted its stake in shares of Thermo Fisher Scientific by 33.5% during the 1st quarter. FMR LLC now owns 11,572,581 shares of the medical research company’s stock worth $3,167,647,000 after purchasing an additional 2,900,868 shares during the period. BlackRock Inc. lifted its stake in shares of Thermo Fisher Scientific by 4.1% during the 1st quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock worth $7,459,327,000 after purchasing an additional 1,074,400 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Thermo Fisher Scientific by 361.8% during the 1st quarter. Marshall Wace LLP now owns 775,103 shares of the medical research company’s stock worth $212,161,000 after purchasing an additional 607,245 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Thermo Fisher Scientific Company Profile

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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Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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