Thermo Fisher Scientific Inc (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $212.00 target price on the medical research company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.41% from the company’s current price.
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.”
Several other equities analysts have also recently commented on the stock. Cowen and Company reissued an “outperform” rating and issued a $220.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Sunday, September 10th. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price target on shares of Thermo Fisher Scientific in a research report on Wednesday, September 6th. Argus reissued a “buy” rating on shares of Thermo Fisher Scientific in a research report on Tuesday, August 22nd. They noted that the move was a valuation call. BidaskClub cut shares of Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $210.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Friday, July 21st. One analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $193.44.
Shares of Thermo Fisher Scientific (NYSE TMO) traded down 0.29% during trading on Thursday, reaching $188.05. 122,333 shares of the company were exchanged. The firm has a 50-day moving average price of $181.07 and a 200-day moving average price of $171.15. The stock has a market capitalization of $73.36 billion, a P/E ratio of 32.76 and a beta of 1.05. Thermo Fisher Scientific has a 1-year low of $139.07 and a 1-year high of $194.30.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $4.92 billion. During the same quarter last year, the company posted $2.03 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific will post $9.35 earnings per share for the current fiscal year.
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In related news, Director C Martin Harris sold 360 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $180.97, for a total transaction of $65,149.20. Following the sale, the director now directly owns 5,312 shares in the company, valued at approximately $961,312.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jim P. Manzi sold 11,318 shares of Thermo Fisher Scientific stock in a transaction on Friday, August 18th. The stock was sold at an average price of $172.94, for a total transaction of $1,957,334.92. Following the sale, the director now owns 38,757 shares in the company, valued at $6,702,635.58. The disclosure for this sale can be found here. Insiders have sold a total of 22,738 shares of company stock worth $4,021,512 over the last quarter. 0.49% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its stake in Thermo Fisher Scientific by 71.5% during the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock worth $105,000 after acquiring an additional 253 shares in the last quarter. Cribstone Capital Management LLC raised its stake in Thermo Fisher Scientific by 8.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock worth $109,000 after acquiring an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth $113,000. Chicago Partners Investment Group LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth $108,000. Finally, CWM LLC raised its stake in Thermo Fisher Scientific by 17.0% during the 2nd quarter. CWM LLC now owns 710 shares of the medical research company’s stock worth $124,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other 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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