Zacks Investment Research Upgrades Thermo Fisher Scientific (TMO) to “Buy”
Thermo Fisher Scientific (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage currently has a $310.00 target price on the medical research company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.17% from the company’s previous close.
According to Zacks, “Over the past three months, Thermo Fisher outperformed its industry. Thermo Fisher is currently demonstrating strength in all end markets categorized either by customer type or geography. In the last-reported quarter, the company 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. We are currently looking forward to the company’s recent purchases of Advanced Bioprocessing business from BD and its initiative to buy Gatan to boost electron microscopy suite . Even after considering the impact of the company’s impending divestiture of its Anatomical Pathology busiess, the 2019 guidance looks pretty encouraging. On the flip side, Thermo Fisher’s business segments are getting impacted by unfavorable business mix. Also, competitive headwinds and escalating costs pose threat.”
Other analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of Thermo Fisher Scientific from $264.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 30th. Deutsche Bank lifted their price target on shares of Thermo Fisher Scientific from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BTIG Research lifted their price target on shares of Thermo Fisher Scientific to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Barclays lifted their price target on shares of Thermo Fisher Scientific from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, January 3rd. Finally, Needham & Company LLC assumed coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, January 2nd. They issued a “strong-buy” rating and a $271.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Thermo Fisher Scientific has an average rating of “Buy” and a consensus price target of $289.00.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, January 30th. The medical research company reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. Thermo Fisher Scientific had a net margin of 12.06% and a return on equity of 16.86%. The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the previous year, the company posted $2.79 earnings per share. Thermo Fisher Scientific’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Thermo Fisher Scientific will post 12.15 earnings per share for the current fiscal year.
In other Thermo Fisher Scientific news, CAO Peter E. Hornstra sold 5,920 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $250.00, for a total transaction of $1,480,000.00. Following the completion of the sale, the chief accounting officer now owns 17,057 shares in the company, valued at $4,264,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gregory J. Herrema sold 3,299 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $263.05, for a total transaction of $867,801.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,927 shares of company stock valued at $9,388,124. 0.49% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in TMO. Capital Financial Planning LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $27,000. Hanson McClain Inc. grew its position in shares of Thermo Fisher Scientific by 263.9% during the fourth quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock worth $29,000 after acquiring an additional 95 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $35,000. Liberty Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $35,000. Finally, Gradient Investments LLC grew its position in shares of Thermo Fisher Scientific by 1,887.5% during the fourth quarter. Gradient Investments LLC now owns 159 shares of the medical research company’s stock worth $36,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
Featured Article: How prevalent are 12b-1 fees?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.