UBS Group Begins Coverage on Thermo Fisher Scientific (TMO)

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UBS Group started coverage on shares of Thermo Fisher Scientific (NYSE:TMO) in a research report released on Tuesday, 99wallstreet.com reports. The firm issued a buy rating and a $295.00 price target on the medical research company’s stock.

TMO has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a hold rating to a buy rating and set a $274.00 target price for the company in a research note on Monday, October 1st. Barclays boosted their target price on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an overweight rating in a research note on Monday, September 24th. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $233.00 to $242.00 and gave the company an overweight rating in a research note on Thursday, July 26th. Goldman Sachs Group lowered shares of Thermo Fisher Scientific from a buy rating to a neutral rating in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. reiterated an overweight rating and set a $300.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $259.91.

Shares of NYSE TMO opened at $231.41 on Tuesday. Thermo Fisher Scientific has a twelve month low of $181.51 and a twelve month high of $249.95. The company has a market capitalization of $98.31 billion, a P/E ratio of 24.38, a PEG ratio of 1.78 and a beta of 1.12. The company has a quick ratio of 1.11, a current ratio of 1.58 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.12. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The company had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the business earned $2.30 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts expect that Thermo Fisher Scientific will post 10.98 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, September 7th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

In other news, insider Patrick M. Durbin sold 20,550 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total transaction of $4,806,028.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 125,520 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,070 shares of company stock valued at $47,569,729. Company insiders own 0.49% of the company’s stock.

Several hedge funds have recently modified their holdings of TMO. FNY Investment Advisers LLC bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $103,000. Horrell Capital Management Inc. bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $104,000. Edge Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 8,077.8% during the 2nd quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock valued at $152,000 after acquiring an additional 727 shares during the period. Atlantic Trust LLC bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $154,000. Finally, Private Capital Group LLC grew its position in shares of Thermo Fisher Scientific by 57.3% during the 1st quarter. Private Capital Group LLC now owns 865 shares of the medical research company’s stock valued at $179,000 after acquiring an additional 315 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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