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 research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage presently has a $299.00 target price on the medical research company’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.15% from the stock’s current price.

According to Zacks, “Thermo Fisher ended first quarter 2019 with adjusted earnings and revenues surpassing the consensus mark. The company is demonstrating strength in all end markets categorized by customer type or geography. In the quarter, the company registered solid international performance with strong growth in Asia-Pacific including China. Also, a series of product launches aided its performance. We are looking forward to the company’s recent purchase of Brammer Bio in the field of Gene and Cell Therapy. This apart, the purchase of Gatan should boost electron microscopy suite. Even after considering the impact of impending divestiture of its Anatomical Pathology busiess, the company's 2019 guidance looks encouraging. Over the past three months, Thermo Fisher outperformed its industry. On the flip side, Thermo Fisher’s operating segments are getting impacted by unfavorable business mix. Competitive headwinds and escalating costs pose threat.”

A number of other research analysts also recently issued reports on TMO. BTIG Research upped their price target on Thermo Fisher Scientific to $290.00 and gave the company a “buy” rating in a report on Thursday, January 31st. Robert W. Baird upped their price target on Thermo Fisher Scientific from $264.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, January 30th. Barclays upped their price target on Thermo Fisher Scientific from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Deutsche Bank upped their price target on Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, UBS Group upped their price target on Thermo Fisher Scientific to $305.00 and gave the company a “buy” rating in a report on Monday, March 25th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Thermo Fisher Scientific has a consensus rating of “Buy” and an average price target of $293.77.

Thermo Fisher Scientific stock traded down $3.13 during mid-day trading on Wednesday, hitting $264.26. The company had a trading volume of 60,564 shares, compared to its average volume of 1,879,261. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.61. Thermo Fisher Scientific has a 12 month low of $202.83 and a 12 month high of $282.98. The company has a market capitalization of $104.43 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $2.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.07. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The business had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that Thermo Fisher Scientific will post 12.19 EPS for the current year.

In related news, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $266.00, for a total transaction of $665,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 50,713 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $273.21, for a total value of $13,855,298.73. Following the sale, the chief executive officer now owns 302,193 shares of the company’s stock, valued at approximately $82,562,149.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,640 shares of company stock valued at $23,243,423. 0.45% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its position in Thermo Fisher Scientific by 44,296.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,565,960 shares of the medical research company’s stock worth $87,000 after buying an additional 19,521,889 shares in the last quarter. Norges Bank bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $946,280,000. FMR LLC boosted its stake in shares of Thermo Fisher Scientific by 33.4% in the fourth quarter. FMR LLC now owns 8,671,713 shares of the medical research company’s stock worth $1,940,642,000 after acquiring an additional 2,172,574 shares during the period. BlackRock Inc. boosted its stake in shares of Thermo Fisher Scientific by 4.1% in the first quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock worth $7,459,327,000 after acquiring an additional 1,074,400 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Thermo Fisher Scientific by 361.8% in the first quarter. Marshall Wace LLP now owns 775,103 shares of the medical research company’s stock worth $212,161,000 after acquiring an additional 607,245 shares during the period. Institutional investors own 88.39% 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.

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