Thermo Fisher Scientific (NYSE:TMO) Research Coverage Started at Stifel Nicolaus

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Equities research analysts at Stifel Nicolaus assumed coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a research note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating on the medical research company’s stock.

Several other research analysts have also recently weighed in on TMO. ValuEngine cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Evercore ISI upgraded shares of Thermo Fisher Scientific to an “outperform” rating in a research report on Thursday. Credit Suisse Group restated a “buy” rating and issued a $310.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Thermo Fisher Scientific from $305.00 to $319.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average target price of $314.45.

NYSE:TMO opened at $306.81 on Thursday. Thermo Fisher Scientific has a 1 year low of $208.34 and a 1 year high of $306.95. The firm has a 50 day moving average of $290.96 and a 200-day moving average of $284.59. The company has a current ratio of 1.80, a quick ratio of 1.23 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $118.68 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.06. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.16%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the company posted $2.62 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts forecast that Thermo Fisher Scientific will post 12.33 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock repurchase plan on Friday, November 8th that allows the company to buyback $2.50 million in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 2,271 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $298.00, for a total transaction of $676,758.00. Following the completion of the sale, the chief executive officer now owns 283,502 shares in the company, valued at approximately $84,483,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 47,729 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $295.88, for a total transaction of $14,122,056.52. Following the sale, the chief executive officer now owns 328,960 shares of the company’s stock, valued at approximately $97,332,684.80. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

Several institutional investors have recently modified their holdings of TMO. Nuveen Asset Management LLC raised its position in shares of Thermo Fisher Scientific by 10,824.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,928,966 shares of the medical research company’s stock valued at $566,498,000 after acquiring an additional 1,911,308 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Thermo Fisher Scientific by 2,589.9% in the 2nd quarter. Jennison Associates LLC now owns 819,138 shares of the medical research company’s stock valued at $240,564,000 after buying an additional 788,686 shares during the period. Putnam Investments LLC grew its holdings in shares of Thermo Fisher Scientific by 2,645.9% in the 2nd quarter. Putnam Investments LLC now owns 720,795 shares of the medical research company’s stock valued at $211,683,000 after buying an additional 694,545 shares during the period. AQR Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 38.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,141,471 shares of the medical research company’s stock valued at $621,561,000 after buying an additional 598,230 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Thermo Fisher Scientific by 22.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,986,916 shares of the medical research company’s stock valued at $877,186,000 after buying an additional 555,802 shares during the period. Institutional investors own 88.06% 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.

Further Reading: How to find the components of the quick ratio

The Fly

Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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