Zacks Investment Research upgraded shares of Thermo Fisher Scientific (NYSE:TMO) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.
According to Zacks, “Post a promising third-quarter 2017 performance we are encouraged by Thermo Fisher’s series of product launches along with progress in precision medicine initiatives. At the same time, we are upbeat about Thermo Fisher recently completing the acquisition of Phenom-World. Moreover, the newly-integrated FEI Company has already started to boost its analytical instruments arm. We are currently looking forward to Thermo Fisher gaining entry into the CDMO market through the recently-closed $7.2 billion acquisition of Patheon. The raised guidance is all the more impressive and indicative of this overall bullish trend to continue through 2017. Unfavorable macroeconomic conditions continue to weigh heavily on Thermo Fisher's stocks. Over the past six months, Thermo Fisher is trading above the broader industry. On the flip side, competitive headwinds and rising operating costs continue to pose a threat on the stock's value.”
TMO has been the topic of several other research reports. Deutsche Bank set a $226.00 price objective on Thermo Fisher Scientific and gave the stock a buy rating in a research note on Thursday, October 26th. BTIG Research initiated coverage on Thermo Fisher Scientific in a research note on Friday, January 5th. They issued a buy rating and a $230.00 price objective on the stock. Leerink Swann raised their price objective on Thermo Fisher Scientific from $190.00 to $207.00 and gave the stock an outperform rating in a research note on Monday, October 9th. Evercore ISI initiated coverage on Thermo Fisher Scientific in a research note on Wednesday, January 3rd. They issued an outperform rating and a $220.00 price objective on the stock. Finally, Barclays reaffirmed an overweight rating and issued a $215.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Monday, September 25th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $212.21.
Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.07. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Thermo Fisher Scientific had a return on equity of 15.94% and a net margin of 11.73%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $2.03 earnings per share. equities analysts anticipate that Thermo Fisher Scientific will post 9.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.28%. The ex-dividend date was Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.19%.
In related news, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $188.39, for a total transaction of $9,419,500.00. Following the sale, the chief executive officer now owns 252,577 shares of the company’s stock, valued at approximately $47,582,981.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in TMO. Bank of Nova Scotia Trust Co. bought a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $106,000. Ropes Wealth Advisors LLC increased its stake in Thermo Fisher Scientific by 15.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock worth $124,000 after acquiring an additional 97 shares during the last quarter. Atlantic Trust LLC bought a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $138,000. Acrospire Investment Management LLC increased its stake in Thermo Fisher Scientific by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the medical research company’s stock worth $174,000 after acquiring an additional 400 shares during the last quarter. Finally, Glassman Wealth Services increased its stake in Thermo Fisher Scientific by 23.1% in the 2nd quarter. Glassman Wealth Services now owns 1,039 shares of the medical research company’s stock worth $181,000 after acquiring an additional 195 shares during the last quarter. 86.22% of the stock is currently owned by institutional investors and hedge funds.
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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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