Thermo Fisher Scientific Inc (TMO) Shares Gap Up Following Better-Than-Expected Earnings

Thermo Fisher Scientific Inc (NYSE:TMO)’s share price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $200.96, but opened at $199.67. Thermo Fisher Scientific shares last traded at $200.53, with a volume of 900,002 shares changing hands.

The medical research company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.07. The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.03 earnings per share.

A number of equities research analysts have commented on the stock. Deutsche Bank AG set a $226.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Leerink Swann raised their price target on shares of Thermo Fisher Scientific from $190.00 to $207.00 and gave the stock an “outperform” rating in a report on Monday, October 9th. Cowen and Company restated an “outperform” rating and issued a $220.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a report on Sunday, September 10th. Finally, Barclays PLC restated an “overweight” rating and issued a $215.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a report on Monday, September 25th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $205.50.

In related news, VP Seth H. Hoogasian sold 4,140 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,537,100.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jim P. Manzi sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $175.20, for a total transaction of $175,200.00. Following the transaction, the director now directly owns 38,757 shares in the company, valued at $6,790,226.40. The disclosure for this sale can be found here. Insiders have sold 52,738 shares of company stock valued at $9,302,112 over the last quarter. Corporate insiders own 0.49% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC lifted its position in shares of Thermo Fisher Scientific by 71.5% during the first quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after purchasing an additional 253 shares in the last quarter. Cribstone Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 8.7% during the second quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $113,000. Chicago Partners Investment Group LLC bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $108,000. Finally, CWM LLC lifted its position in shares of Thermo Fisher Scientific by 17.0% during the second quarter. CWM LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 103 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

The stock has a market cap of $75.07 billion, a P/E ratio of 33.52 and a beta of 1.05. The firm’s 50-day moving average price is $191.38 and its 200-day moving average price is $177.67.

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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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