Thermo Fisher Scientific (TMO) Stock Rating Lowered by Zacks Investment Research

Thermo Fisher Scientific (NYSE:TMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Thermo Fisher ended the first quarter on a promising note with adjusted earnings and revenues surpassing the consensus mark. We are encouraged by the company’s solid international performance on strong growth in the emerging markets of China, South Korea and India. Also, a series of product launches along with major progress in precision medicine initiatives aided Thermo Fisher’s performance. Moreover, the Patheon buyout has substantially adding an impetus to the company’s value proposition for biopharma customers. Notably, it has already started to prove accretive to Thermo Fisher’s Laboratory Products and Services segment. The company has outperformed its industry in the past year. On the flip side, in the reported quarter, Thermo Fisher’s business segments were impacted by unfavorable business mix. Also, competitive headwinds and rising operating costs continue to pose a threat.”

Other equities analysts have also recently issued research reports about the company. ValuEngine raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Bank of America lifted their target price on Thermo Fisher Scientific from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Leerink Swann reaffirmed an “outperform” rating and set a $239.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Thursday, February 1st. They noted that the move was a valuation call. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $216.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, April 26th. Finally, Barclays lifted their target price on Thermo Fisher Scientific from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $222.21.

Thermo Fisher Scientific opened at $211.01 on Wednesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.36. Thermo Fisher Scientific has a fifty-two week low of $209.10 and a fifty-two week high of $211.31. The stock has a market cap of $84.12 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 25th. The medical research company reported $2.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.42 by $0.08. Thermo Fisher Scientific had a return on equity of 16.09% and a net margin of 10.24%. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. equities analysts forecast that Thermo Fisher Scientific will post 10.9 earnings per share for the current fiscal year.

In other news, CFO Stephen Williamson sold 2,500 shares of Thermo Fisher Scientific stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $204.60, for a total transaction of $511,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 40,000 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $210.16, for a total value of $8,406,400.00. Following the sale, the chief executive officer now owns 334,622 shares of the company’s stock, valued at $70,324,159.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,500 shares of company stock valued at $9,129,330. 0.49% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Thermo Fisher Scientific by 2.0% in the 1st quarter. BlackRock Inc. now owns 24,582,453 shares of the medical research company’s stock worth $5,075,294,000 after purchasing an additional 475,267 shares during the last quarter. Longview Partners Guernsey LTD lifted its holdings in Thermo Fisher Scientific by 6.8% in the 4th quarter. Longview Partners Guernsey LTD now owns 4,876,890 shares of the medical research company’s stock worth $926,024,000 after purchasing an additional 311,977 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 3,917,221 shares of the medical research company’s stock worth $742,108,000 after purchasing an additional 158,961 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Thermo Fisher Scientific by 0.3% in the 1st quarter. Wells Fargo & Company MN now owns 3,198,908 shares of the medical research company’s stock worth $660,446,000 after purchasing an additional 9,820 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Thermo Fisher Scientific by 5.3% in the 4th quarter. Clearbridge Investments LLC now owns 2,862,399 shares of the medical research company’s stock worth $543,512,000 after purchasing an additional 143,518 shares during the last quarter. Institutional investors and hedge funds own 86.52% of the company’s stock.

Thermo Fisher Scientific Company Profile

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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