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. Zacks Investment Research currently has $215.00 target price 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.”
A number of other brokerages also recently commented on TMO. Leerink Swann boosted their target price on shares of Thermo Fisher Scientific from $190.00 to $207.00 and gave the stock an outperform rating in a research note on Monday, October 9th. Bank of America Corporation reiterated a buy rating and set a $210.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Cowen and Company reissued an outperform rating and issued a $220.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a research report on Sunday, September 10th. Deutsche Bank AG set a $226.00 price target on shares of Thermo Fisher Scientific and gave the company a buy rating in a research report on Thursday, October 26th. Finally, BidaskClub cut shares of Thermo Fisher Scientific from a strong-buy rating to a buy rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $205.71.
Thermo Fisher Scientific (TMO) opened at $186.18 on Tuesday. The company has a market cap of $74,657.32, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 0.81. Thermo Fisher Scientific has a 12 month low of $139.07 and a 12 month high of $201.20.
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, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.07. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.03 billion. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 earnings per share. sell-side analysts forecast that Thermo Fisher Scientific will post 9.36 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be given a $0.15 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.19%.
In related news, Director Jim P. Manzi sold 11,318 shares of the company’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 transaction of $1,957,334.92. Following the transaction, the director now owns 38,757 shares of the company’s stock, valued at $6,702,635.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Seth H. Hoogasian sold 4,140 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $177.80, for a total transaction of $736,092.00. Following the transaction, the vice president now directly owns 25,518 shares in the company, valued at approximately $4,537,100.40. The disclosure for this sale can be found here. Insiders sold 22,738 shares of company stock worth $4,021,512 over the last quarter. Company insiders own 0.49% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Thermo Fisher Scientific by 2,692.1% during the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock worth $3,531,095,000 after purchasing an additional 22,165,530 shares during the period. Capital Research Global Investors raised its stake in Thermo Fisher Scientific by 29.8% during the second quarter. Capital Research Global Investors now owns 17,304,897 shares of the medical research company’s stock worth $3,019,185,000 after purchasing an additional 3,973,136 shares during the period. Janus Henderson Group PLC raised its stake in Thermo Fisher Scientific by 2,058.1% during the second quarter. Janus Henderson Group PLC now owns 2,342,046 shares of the medical research company’s stock worth $408,620,000 after purchasing an additional 2,233,522 shares during the period. Veritas Asset Management LLP raised its stake in Thermo Fisher Scientific by 112.4% during the second quarter. Veritas Asset Management LLP now owns 2,430,759 shares of the medical research company’s stock worth $424,095,000 after purchasing an additional 1,286,259 shares during the period. Finally, Harbour Capital Advisors LLC raised its stake in Thermo Fisher Scientific by 18,197.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,201,051 shares of the medical research company’s stock worth $6,884,000 after purchasing an additional 1,194,487 shares during the period. 83.78% of the stock is currently owned by institutional investors and hedge funds.
Thermo Fisher Scientific Company Profile
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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