Thermo Fisher Scientific Inc (NYSE:TMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Over the last three months, Thermo Fisher is trading above the broader industry. Thermo Fisher ended the second quarter on a promising note. We are particularly upbeat about the company gaining entry into the CDMO market through the recent acquistion of Patheon for $7.2 billion. We are also encouraged by the company’s series of product launches along with major progress in precision medicine initiatives. Thermo Fisher’s acquisition of FEI Company has already started to boost its analytical instruments portfolio. The company also opened Center of Excellence for electron microscopy in Saudi Arabia. The raised 2017 guidance is all the more encouraging indicating the fact that this overall bullish trend will continue through the year.”
TMO has been the subject of a number of other research reports. Cowen and Company reissued an “outperform” rating and issued a $220.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Sunday, September 10th. BidaskClub raised shares of Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 11th. Citigroup Inc. reaffirmed a “buy” rating and set a $201.00 target price (up previously from $182.00) on shares of Thermo Fisher Scientific in a report on Monday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 target price on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. Finally, Argus reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a report on Tuesday, August 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $193.56.
Thermo Fisher Scientific (NYSE TMO) opened at 189.62 on Monday. The stock has a 50 day moving average of $181.07 and a 200-day moving average of $171.15. Thermo Fisher Scientific has a 1-year low of $139.07 and a 1-year high of $194.30. The firm has a market capitalization of $73.97 billion, a P/E ratio of 33.03 and a beta of 1.05.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter last year, the firm posted $2.03 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Thermo Fisher Scientific will post $9.35 earnings per share for the current year.
In other news, Director Jim P. Manzi sold 11,318 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $172.94, for a total value of $1,957,334.92. Following the completion of the transaction, the director now directly owns 38,757 shares in the company, valued at approximately $6,702,635.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Peter E. Hornstra sold 3,894 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $185.18, for a total transaction of $721,090.92. Following the completion of the transaction, the vice president now owns 19,751 shares of the company’s stock, valued at $3,657,490.18. The disclosure for this sale can be found here. Insiders sold a total of 22,738 shares of company stock valued at $4,021,512 in the last three months. Insiders own 0.49% of the company’s stock.
Several large investors have recently modified their holdings of TMO. Proficio Capital Partners LLC raised its position in shares of Thermo Fisher Scientific by 71.5% in the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after buying an additional 253 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $108,000. Cribstone Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 8.7% in the 2nd quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after buying an additional 50 shares in the last quarter. Sharkey Howes & Javer raised its position in shares of Thermo Fisher Scientific by 1.0% in the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock valued at $113,000 after buying an additional 7 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $113,000. Institutional investors own 83.36% of the company’s stock.
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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