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 morning, Zacks.com reports. They currently have $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.”
Other research analysts have also issued reports about the stock. Robert W. Baird upped their target price on shares of Thermo Fisher Scientific from $264.00 to $270.00 and gave the company an outperform rating in a report on Wednesday, January 30th. Argus upped their target price on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the company a buy rating in a report on Wednesday, May 1st. Needham & Company LLC restated a strong-buy rating and issued a $312.00 target price (up from $271.00) on shares of Thermo Fisher Scientific in a report on Monday, April 22nd. Deutsche Bank upped their target price on shares of Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a buy rating in a report on Friday, March 22nd. Finally, BTIG Research upped their target price on shares of Thermo Fisher Scientific to $310.00 and gave the company a buy rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $293.77.
Shares of Thermo Fisher Scientific stock traded up $4.80 on Wednesday, hitting $267.84. The company’s stock had a trading volume of 12,364 shares, compared to its average volume of 1,687,813. The firm has a market capitalization of $104.43 billion, a PE ratio of 24.09, a P/E/G ratio of 1.71 and a beta of 1.11. The company has a quick ratio of 1.16, a current ratio of 1.69 and a debt-to-equity ratio of 0.61. Thermo Fisher Scientific has a 52-week low of $202.83 and a 52-week high of $282.98.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.07. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.04 billion. Thermo Fisher Scientific had a net margin of 12.89% and a return on equity of 17.06%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 EPS. On average, research analysts expect that Thermo Fisher Scientific will post 12.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Friday, March 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.28%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.
In other news, CEO Marc N. Casper sold 50,713 shares of the company’s stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available at this hyperlink. Also, SVP Gregory J. Herrema sold 19,808 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 25,688 shares of the company’s stock, valued at approximately $6,506,513.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,640 shares of company stock valued at $23,243,423. Corporate insiders own 0.45% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Kore Private Wealth LLC acquired a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $191,000. Wealthsource Partners LLC increased its position in Thermo Fisher Scientific by 52.2% during the 1st quarter. Wealthsource Partners LLC now owns 1,873 shares of the medical research company’s stock worth $513,000 after purchasing an additional 642 shares in the last quarter. Covenant Partners LLC acquired a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $585,000. HighTower Advisors LLC increased its position in Thermo Fisher Scientific by 2.3% during the 1st quarter. HighTower Advisors LLC now owns 56,984 shares of the medical research company’s stock worth $15,573,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Maverick Capital Ltd. increased its position in Thermo Fisher Scientific by 19.8% during the 1st quarter. Maverick Capital Ltd. now owns 26,370 shares of the medical research company’s stock worth $7,218,000 after purchasing an additional 4,350 shares in the last quarter. 88.39% of the stock is owned by institutional investors.
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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