Zacks Investment Research upgraded shares of Thermo Fisher Scientific Inc (NYSE:TMO) from a hold rating to a buy rating in a research report report published on Tuesday, October 31st. They currently have $215.00 price target on the medical research company’s stock.
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.”
Other analysts also recently issued reports about the stock. Citigroup Inc. restated a buy rating and set a $201.00 price target (up from $182.00) on shares of Thermo Fisher Scientific in a research report on Monday, July 10th. Goldman Sachs Group, Inc. (The) began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, September 26th. They issued a buy rating and a $225.00 target price on the stock. Cowen and Company reiterated a buy rating and issued a $200.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 1st. Argus reiterated 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. Finally, BidaskClub downgraded shares of Thermo Fisher Scientific from a strong-buy rating to a buy rating in a report on Monday, July 31st. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $205.71.
Thermo Fisher Scientific (NYSE:TMO) traded down $0.44 during midday trading on Tuesday, hitting $190.17. 1,145,983 shares of the stock traded hands, compared to its average volume of 1,631,263. Thermo Fisher Scientific has a 1-year low of $139.07 and a 1-year high of $201.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 0.81. The firm has a market cap of $76,257.29, a price-to-earnings ratio of 20.90, a PEG ratio of 1.74 and a beta of 1.08.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.31 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the business posted $2.03 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. equities research analysts expect that Thermo Fisher Scientific will post 9.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is 10.19%.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $188.39, for a total transaction of $9,419,500.00. Following the sale, the chief executive officer now owns 252,577 shares of the company’s stock, valued at approximately $47,582,981.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director C Martin Harris sold 360 shares of the stock in a transaction dated Wednesday, August 30th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 60,420 shares of company stock worth $11,308,477. 0.49% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TMO. Vanguard Group Inc. raised its position in shares of Thermo Fisher Scientific by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 26,600,394 shares of the medical research company’s stock valued at $4,640,970,000 after acquiring an additional 629,093 shares during the period. BlackRock Inc. raised its holdings in shares of Thermo Fisher Scientific by 1.6% in the second quarter. BlackRock Inc. now owns 23,355,469 shares of the medical research company’s stock valued at $4,074,828,000 after purchasing an additional 366,584 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Thermo Fisher Scientific by 29.8% in the second quarter. Capital Research Global Investors now owns 17,304,897 shares of the medical research company’s stock valued at $3,019,185,000 after buying an additional 3,973,136 shares in the last quarter. State Street Corp grew its stake in shares of Thermo Fisher Scientific by 1.0% in the first quarter. State Street Corp now owns 16,085,954 shares of the medical research company’s stock valued at $2,470,802,000 after buying an additional 164,367 shares in the last quarter. Finally, Capital World Investors boosted its position in Thermo Fisher Scientific by 6.1% during the second quarter. Capital World Investors now owns 11,759,734 shares of the medical research company’s stock worth $2,051,721,000 after purchasing an additional 671,637 shares during the period. 85.32% of the stock is currently owned by institutional investors.
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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