Thermo Fisher Scientific (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage currently has a $271.00 price objective on the medical research company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.13% from the stock’s current price.
According to Zacks, “Over the past three months, Thermo Fisher has successfully outperformed its industry. The company saw strength in all end markets categorized by customer type or geography in the last reported quarter. It particularly registered solid international performance with strong growth in Asia-Pacific including China. Also, a series of product launches with progress in precision medicine initiatives aided its performance. The company’s recently-closed acquisition of Advanced Bioprocessing business from BD should add complementary cell culture products to Thermo Fisher’s bioproduction offerings. Also, the company’s initiative to buy Gatan to boost electron microscopy suite buoys optimism. On the flip side, Thermo Fisher’s business segments are getting impacted by unfavorable business mix. Also, competitive headwinds and escalating costs pose a threat.”
Several other analysts have also weighed in on TMO. Robert W. Baird upped their price objective on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 25th. Citigroup upped their price objective on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Barclays upped their price objective on Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Monday, September 24th. Finally, Cleveland Research lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $263.64.
Shares of Thermo Fisher Scientific stock traded down $4.60 during trading on Friday, hitting $237.44. The stock had a trading volume of 45,421 shares, compared to its average volume of 1,439,951. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. The firm has a market cap of $98.18 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. Thermo Fisher Scientific has a fifty-two week low of $183.65 and a fifty-two week high of $253.91.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.70 billion. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.31 earnings per share. Analysts anticipate that Thermo Fisher Scientific will post 11.05 earnings per share for the current fiscal year.
Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, September 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Marc N. Casper sold 125,520 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $247.50, for a total transaction of $31,066,200.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tyler Jacks sold 4,772 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $239.75, for a total value of $1,144,087.00. The disclosure for this sale can be found here. Insiders have sold 148,627 shares of company stock worth $36,744,510 over the last ninety days. 0.49% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in TMO. Capital International Investors acquired a new stake in shares of Thermo Fisher Scientific during the third quarter worth $868,413,000. Capital World Investors raised its position in Thermo Fisher Scientific by 19.2% during the third quarter. Capital World Investors now owns 15,412,242 shares of the medical research company’s stock valued at $3,761,820,000 after buying an additional 2,482,783 shares during the period. FMR LLC raised its position in Thermo Fisher Scientific by 18.5% during the third quarter. FMR LLC now owns 6,499,139 shares of the medical research company’s stock valued at $1,586,310,000 after buying an additional 1,016,082 shares during the period. AQR Capital Management LLC raised its position in Thermo Fisher Scientific by 71.4% during the third quarter. AQR Capital Management LLC now owns 1,499,423 shares of the medical research company’s stock valued at $365,979,000 after buying an additional 624,602 shares during the period. Finally, Cantillon Capital Management LLC acquired a new position in Thermo Fisher Scientific during the third quarter valued at $130,790,000. 86.98% of the stock is currently owned by institutional investors.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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