Thermo Fisher Scientific (TMO) Cut to Hold at Zacks Investment Research

Thermo Fisher Scientific (NYSE:TMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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.”

A number of other research firms also recently commented on TMO. Bank of America reaffirmed a “buy” rating and issued a $300.00 target price (up from $285.00) on shares of Thermo Fisher Scientific in a research report on Tuesday, April 16th. Argus increased their target price on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Deutsche Bank increased their target price on shares of Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Robert W. Baird increased their target price on shares of Thermo Fisher Scientific from $270.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, BTIG Research increased their target price on shares of Thermo Fisher Scientific to $310.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $293.77.

Shares of NYSE:TMO opened at $267.39 on Tuesday. Thermo Fisher Scientific has a 52 week low of $202.83 and a 52 week 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 company has a market capitalization of $104.43 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.71 and a beta of 1.11.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $2.81 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 the consensus estimate of $6.04 billion. Thermo Fisher Scientific had a net margin of 12.89% and a return on equity of 17.06%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 EPS. On average, research analysts forecast that Thermo Fisher Scientific will post 12.19 earnings per share for the current year.

In related news, SVP Gregory J. Herrema sold 5,400 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $251.51, for a total transaction of $1,358,154.00. Following the completion of the sale, the senior vice president now owns 31,846 shares in the company, valued at approximately $8,009,587.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Gregory J. Herrema sold 19,808 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $253.29, for a total transaction of $5,017,168.32. Following the sale, the senior vice president now 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 quarter, insiders have sold 87,640 shares of company stock valued at $23,243,423. 0.45% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc boosted its stake in Thermo Fisher Scientific by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 29,271,095 shares of the medical research company’s stock worth $7,144,489,000 after purchasing an additional 347,836 shares during the period. BlackRock Inc. lifted its stake in shares of Thermo Fisher Scientific by 4.1% in the 1st quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock worth $7,459,327,000 after acquiring an additional 1,074,400 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Thermo Fisher Scientific by 44,296.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,565,960 shares of the medical research company’s stock worth $87,000 after acquiring an additional 19,521,889 shares during the period. FMR LLC lifted its stake in shares of Thermo Fisher Scientific by 33.4% in the 4th quarter. FMR LLC now owns 8,671,713 shares of the medical research company’s stock worth $1,940,642,000 after acquiring an additional 2,172,574 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 8.0% in the 1st quarter. Geode Capital Management LLC now owns 5,290,039 shares of the medical research company’s stock worth $1,445,315,000 after acquiring an additional 392,325 shares during the period. Hedge funds and other institutional investors own 88.39% of the company’s stock.

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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