Thermo Fisher Scientific Inc (TMO) Upgraded at Zacks Investment Research

Thermo Fisher Scientific Inc (NYSE:TMO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, September 14th. The firm presently has a $214.00 price objective on the medical research company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.65% from the company’s current price.

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.”

Several other equities analysts have also recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. Cleveland Research raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. Cowen and Company reaffirmed a “buy” rating and set a $200.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 1st. Bank of America Corporation reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $175.00 target price on shares of Thermo Fisher Scientific in a research report on Wednesday, May 17th. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $194.33.

Thermo Fisher Scientific (NYSE:TMO) opened at 188.30 on Thursday. The company has a 50-day moving average of $181.07 and a 200-day moving average of $171.15. The firm has a market cap of $73.46 billion, a price-to-earnings ratio of 32.80 and a beta of 1.05. Thermo Fisher Scientific has a 52 week low of $139.07 and a 52 week high of $194.30.

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

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In other news, Director C Martin Harris sold 360 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $180.97, for a total value of $65,149.20. Following the completion of the sale, the director now directly owns 5,312 shares in the company, valued at approximately $961,312.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gregory J. Herrema sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $176.02, for a total transaction of $5,280,600.00. Following the sale, the senior vice president now owns 67,016 shares of the company’s stock, valued at $11,796,156.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,738 shares of company stock valued at $9,302,112. Company insiders own 0.49% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC raised its holdings in Thermo Fisher Scientific by 71.5% during the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after buying an additional 253 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $108,000. Cribstone Capital Management LLC raised its holdings in Thermo Fisher Scientific by 8.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Sharkey Howes & Javer raised its holdings in Thermo Fisher Scientific by 1.0% during the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock valued at $113,000 after buying an additional 7 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $113,000. Institutional investors own 83.36% of the company’s stock.

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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