Thermo Fisher Scientific Inc (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $215.00 target price on the medical research company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.92% from the stock’s current price.
According to Zacks, “Thermo Fisher ended the third quarter on a promising note with both adjusted earnings and revenues beating the Zacks Consensus Estimate. We are encouraged by the company’s series of product launches along with major progress in precision medicine initiatives. The newly-integrated FEI Company has already started to boost its analytical instruments arm. We are currently looking forward to Thermo Fisher gaining entry into the CDMO market through the recently-closed $7.2 billion acquisition of Patheon. The raised guidance is all the more impressive and indicative of this overall bullish trend to continue through 2017. Unfavorable macroeconomic conditions continue to weigh heavily on Thermo Fisher's stocks. Over the last three months, Thermo Fisher is trading above the broader industry. On the flip side, competitive headwinds and currency fluctuations continue to pose a threat on the stock's value.”
Several other research analysts have also recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $220.00 target price on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. Cowen and Company restated an “outperform” rating and issued a $220.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a report on Sunday, September 10th. Cleveland Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a report on Thursday, July 20th. Bank of America Corporation restated a “buy” rating and issued a $210.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. Finally, BidaskClub upgraded shares of Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $205.71.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.07. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the business earned $2.03 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis.
In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $175.20, for a total transaction of $175,200.00. Following the completion of the transaction, the director now owns 38,757 shares of the company’s stock, valued at $6,790,226.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jim P. Manzi sold 11,318 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 38,757 shares of the company’s stock, valued at approximately $6,702,635.58. The disclosure for this sale can be found here. Insiders have sold 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.
Institutional investors have recently made changes to their positions in the business. 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 worth $105,000 after purchasing an additional 253 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth about $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 worth $109,000 after purchasing an additional 50 shares during 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 worth $113,000 after purchasing an additional 7 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth about $113,000. 83.61% of the stock is owned by institutional investors and hedge funds.
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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