Thermo Fisher Scientific (TMO) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Thermo Fisher Scientific (NYSE:TMO) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “Post a promising third-quarter 2017 performance we are encouraged by Thermo Fisher’s series of product launches along with progress in precision medicine initiatives. At the same time, we are upbeat about Thermo Fisher recently completing the acquisition of Phenom-World. Moreover, 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 past six months, Thermo Fisher is trading above the broader industry. On the flip side, competitive headwinds and rising operating costs continue to pose a threat on the stock's value.”
Other analysts have also recently issued research reports about the stock. Barclays reiterated an overweight rating and set a $215.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Monday, September 25th. Jefferies Group reiterated a hold rating and set a $195.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, September 28th. Leerink Swann reiterated a buy rating on shares of Thermo Fisher Scientific in a research report on Monday, October 30th. BTIG Research began coverage on shares of Thermo Fisher Scientific in a research report on Friday, January 5th. They set a buy rating and a $230.00 target price for the company. Finally, Evercore ISI began coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, January 3rd. They set an outperform rating and a $220.00 target price for the company. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Thermo Fisher Scientific has an average rating of Buy and a consensus target price of $212.21.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.24 by $0.07. The company 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 revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. research analysts forecast that Thermo Fisher Scientific will post 9.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.19%.
In related news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $191.74, for a total value of $9,587,000.00. Following the completion of the sale, the chief executive officer now owns 302,577 shares in the company, valued at approximately $58,016,113.98. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.49% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TMO. Capital Research Global Investors increased its holdings in Thermo Fisher Scientific by 29.8% during the 2nd 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 in the last quarter. Janus Henderson Group PLC increased its holdings in Thermo Fisher Scientific by 2,058.1% during the 2nd 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 in the last quarter. Veritas Asset Management LLP increased its holdings in Thermo Fisher Scientific by 112.4% during the 2nd 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 in the last quarter. Meritage Group LP bought a new position in Thermo Fisher Scientific during the 3rd quarter worth about $201,383,000. Finally, Capital World Investors increased its holdings in Thermo Fisher Scientific by 6.1% during the 2nd quarter. Capital World Investors now owns 11,759,734 shares of the medical research company’s stock worth $2,051,721,000 after purchasing an additional 671,637 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.
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About Thermo Fisher Scientific
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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