Today, Thermo Fisher Scientific Inc. (TMO) Stock Rating Upgraded by Zacks Investment Research

Today, Thermo Fisher Scientific Inc. (TMO) Stock Rating Upgraded by Zacks Investment Research

Thermo Fisher Scientific Inc. (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $172.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 13.37% from the company’s previous close.

According to Zacks, “We are looking forward to Thermo Fisher’s recently completed colossal $4.2 billion acquisition of FEI Company. The buyout is going to significantly facilitate the company’s performance in life-science research. We also await the integration and expected synergy of Affimetrix, another mega acquisition of Thermo Fisher, which is expected to boost its offering in the fast-growing flow cytometry market. We are also upbeat about the significant product launches by the company in the quarter along with strong growth in emerging markets and an enhancement in the company’s customer value proposition. The company also deployed $1 billion of capital for share buybacks earlier this year. This in turn reflects the company’s strong cash position.”

Other analysts also recently issued reports about the company. Citigroup Inc. increased their price objective on Thermo Fisher Scientific from $160.00 to $182.00 and gave the company a “buy” rating in a report on Friday, July 29th. Mizuho set a $175.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, July 28th. BTIG Research raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Friday, July 22nd. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research report on Wednesday, July 6th. Finally, Bank of America Corp. set a $180.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Friday, October 7th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $162.37.

Shares of Thermo Fisher Scientific (NYSE:TMO) opened at 151.71 on Thursday. The company has a 50 day moving average price of $153.51 and a 200-day moving average price of $151.02. Thermo Fisher Scientific has a 52-week low of $119.75 and a 52-week high of $160.68. The firm has a market cap of $59.81 billion, a P/E ratio of 30.35 and a beta of 0.97.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.02. The business earned $4.54 billion during the quarter, compared to the consensus estimate of $4.50 billion. Thermo Fisher Scientific had a return on equity of 14.70% and a net margin of 11.35%. Thermo Fisher Scientific’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share. On average, analysts expect that Thermo Fisher Scientific will post $8.17 earnings per share for the current fiscal year.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 30,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $151.17, for a total value of $4,535,100.00. Following the completion of the sale, the chief executive officer now owns 308,647 shares in the company, valued at approximately $46,658,166.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director C Martin Harris sold 390 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $157.33, for a total transaction of $61,358.70. Following the completion of the sale, the director now owns 4,648 shares of the company’s stock, valued at approximately $731,269.84. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in Thermo Fisher Scientific by 567.4% in the first quarter. Meeder Asset Management Inc. now owns 6,674 shares of the company’s stock valued at $945,000 after buying an additional 5,674 shares during the period. Kings Point Capital Management raised its stake in Thermo Fisher Scientific by 4.0% in the first quarter. Kings Point Capital Management now owns 62,396 shares of the company’s stock valued at $8,835,000 after buying an additional 2,386 shares during the period. BB&T Securities LLC raised its stake in Thermo Fisher Scientific by 264.1% in the first quarter. BB&T Securities LLC now owns 75,191 shares of the company’s stock valued at $10,646,000 after buying an additional 54,541 shares during the period. Credit Agricole S A raised its stake in shares of Thermo Fisher Scientific by 0.5% in the first quarter. Credit Agricole S A now owns 245,681 shares of the company’s stock valued at $34,786,000 after buying an additional 1,279 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Thermo Fisher Scientific by 1.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,460 shares of the company’s stock valued at $3,888,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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