Thermo Fisher Scientific (TMO) Rating Increased to Buy at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Thermo Fisher Scientific (NYSE:TMO) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $299.00 price objective on the medical research company’s stock.

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.”

TMO has been the topic of a number of other reports. BTIG Research raised their price objective on shares of Thermo Fisher Scientific to $310.00 and gave the stock a buy rating in a report on Tuesday, March 26th. Argus raised their price objective on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $264.00 to $270.00 and gave the stock an outperform rating in a report on Wednesday, January 30th. Bank of America restated a buy rating and set a $300.00 price objective (up from $285.00) on shares of Thermo Fisher Scientific in a report on Tuesday, April 16th. Finally, UBS Group lifted their price target on shares of Thermo Fisher Scientific to $305.00 and gave the company a buy rating in a research note on Monday, March 25th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $293.77.

Shares of NYSE:TMO opened at $261.73 on Wednesday. Thermo Fisher Scientific has a 12 month low of $202.83 and a 12 month high of $282.98. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.61. The firm has a market cap of $104.69 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.72 and a beta of 1.11.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.07. Thermo Fisher Scientific had a net margin of 12.89% and a return on equity of 17.06%. The business had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period last year, the business posted $2.50 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts predict that Thermo Fisher Scientific will post 12.19 earnings per share for the current fiscal year.

In other Thermo Fisher Scientific news, SVP Gregory J. Herrema sold 5,400 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $251.51, for a total value of $1,358,154.00. Following the sale, the senior vice president now directly owns 31,846 shares in the company, valued at approximately $8,009,587.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gregory J. Herrema sold 19,808 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 25th. The shares were sold at an average price of $253.29, for a total transaction of $5,017,168.32. Following the completion of the sale, the senior vice president now owns 25,688 shares in the company, valued at $6,506,513.52. The disclosure for this sale can be found here. Insiders sold a total of 81,720 shares of company stock worth $21,763,423 over the last quarter. Company insiders own 0.45% of the company’s stock.

A number of hedge funds have recently modified their holdings of TMO. Capital Financial Planning LLC bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $27,000. Hanson McClain Inc. grew its position in shares of Thermo Fisher Scientific by 263.9% in the 4th quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 95 shares during the period. Truvestments Capital LLC bought a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at about $29,000. Capital Investment Advisory Services LLC bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $35,000. Finally, Liberty Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $35,000. Hedge funds and other 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.

Featured Article: How to Use the New Google Finance Tool

Get a free copy of the Zacks research report on Thermo Fisher Scientific (TMO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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.