Zacks Investment Research upgraded shares of Thermo Fisher Scientific Inc (NYSE:TMO) from a hold rating to a buy rating in a report released on Thursday morning. Zacks Investment Research currently has $212.00 target price on the medical research company’s stock.

According to Zacks, “Over the last three months, Thermo Fisher is trading above the broader industry. Thermo Fisher ended the second quarter on a promising note. We are particularly upbeat about the company gaining entry into the CDMO market through the recent acquistion of Patheon for $7.2 billion. We are also encouraged by the company’s series of product launches along with major progress in precision medicine initiatives. Thermo Fisher’s acquisition of FEI Company has already started to boost its analytical instruments portfolio. The company also opened Center of Excellence for electron microscopy in Saudi Arabia. The raised 2017 guidance is all the more encouraging indicating the fact that this overall bullish trend will continue through the year.”

A number of other research analysts also recently issued reports on the company. Cowen and Company reiterated an outperform rating and set a $220.00 price objective (up from $200.00) on shares of Thermo Fisher Scientific in a report on Sunday, September 10th. Morgan Stanley reiterated an overweight rating and set a $220.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. 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. BidaskClub downgraded Thermo Fisher Scientific from a strong-buy rating to a buy rating in a report on Monday, July 31st. Finally, Bank of America Corporation reiterated a buy rating and set a $210.00 price objective (up from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Thermo Fisher Scientific currently has an average rating of Buy and an average target price of $194.33.

Shares of Thermo Fisher Scientific (NYSE:TMO) opened at 188.30 on Thursday. The firm has a market capitalization of $73.46 billion, a price-to-earnings ratio of 32.80 and a beta of 1.05. The firm’s 50-day moving average price is $181.07 and its 200-day moving average price is $171.15. Thermo Fisher Scientific has a 12 month low of $139.07 and a 12 month high of $194.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.03. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.92 billion. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. Thermo Fisher Scientific’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.03 earnings per share. On average, equities analysts anticipate that Thermo Fisher Scientific will post $9.35 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.

In other Thermo Fisher Scientific news, VP Seth H. Hoogasian sold 4,140 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $177.80, for a total transaction of $736,092.00. Following the transaction, the vice president now owns 25,518 shares in the company, valued at approximately $4,537,100.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Peter E. Hornstra sold 3,894 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $185.18, for a total value of $721,090.92. Following the transaction, the vice president now owns 19,751 shares in the company, valued at approximately $3,657,490.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,738 shares of company stock worth $9,302,112. Corporate insiders own 0.49% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. BB&T Securities LLC increased its stake in shares of Thermo Fisher Scientific by 4.4% in the 1st quarter. BB&T Securities LLC now owns 89,837 shares of the medical research company’s stock valued at $13,798,000 after purchasing an additional 3,819 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Thermo Fisher Scientific by 53.5% in the 1st quarter. Toronto Dominion Bank now owns 107,099 shares of the medical research company’s stock valued at $16,450,000 after purchasing an additional 37,307 shares during the last quarter. Mitchell Capital Management Co. increased its stake in shares of Thermo Fisher Scientific by 40.3% in the 2nd quarter. Mitchell Capital Management Co. now owns 44,940 shares of the medical research company’s stock valued at $7,841,000 after purchasing an additional 12,910 shares during the last quarter. IBM Retirement Fund increased its stake in shares of Thermo Fisher Scientific by 117.7% in the 2nd quarter. IBM Retirement Fund now owns 9,537 shares of the medical research company’s stock valued at $1,860,000 after purchasing an additional 5,157 shares during the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in shares of Thermo Fisher Scientific by 41.7% in the 2nd quarter. Cornerstone Investment Partners LLC now owns 421,541 shares of the medical research company’s stock valued at $73,546,000 after purchasing an additional 123,954 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

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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Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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