Zacks Investment Research Upgrades Thermo Fisher Scientific (NYSE: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 on Wednesday, Zacks.com reports. The firm presently has a $299.00 target price on the medical research company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 4.83% from the stock’s previous close.

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. 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 several other reports. UBS Group upped their price objective on shares of Thermo Fisher Scientific to $305.00 and gave the company a “buy” rating in a report on Monday, March 25th. BTIG Research upped their price target on shares of Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Barclays upped their price target on shares of Thermo Fisher Scientific from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Bank of America restated a “buy” rating and issued a $300.00 price target (up from $285.00) on shares of Thermo Fisher Scientific in a research note on Tuesday, April 16th. Finally, Deutsche Bank upped their price target on shares of Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $295.92.

TMO traded up $0.18 during trading on Wednesday, reaching $285.23. 30,970 shares of the stock were exchanged, compared to its average volume of 1,645,002. The company has a market cap of $113.70 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.85 and a beta of 1.08. Thermo Fisher Scientific has a twelve month low of $202.83 and a twelve month high of $288.07. 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 (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $2.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm 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 earned $2.50 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts forecast that Thermo Fisher Scientific will post 12.2 earnings per share for the current year.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,713 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $273.21, for a total transaction of $13,855,298.73. Following the completion of the sale, the chief executive officer now owns 302,193 shares of the company’s stock, valued at approximately $82,562,149.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Martin Harris sold 275 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $270.73, for a total transaction of $74,450.75. Following the sale, the director now directly owns 6,433 shares of the company’s stock, valued at approximately $1,741,606.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,488 shares of company stock valued at $14,600,474. 0.45% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Capital Financial Planning LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $27,000. Hanson McClain Inc. lifted its stake in Thermo Fisher Scientific by 263.9% during the fourth quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 95 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Thermo Fisher Scientific during the first quarter valued at approximately $29,000. Capital Investment Advisory Services LLC acquired a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $35,000. Finally, Liberty Wealth Management LLC acquired a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $35,000. 87.96% of the stock is owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

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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