Thermo Fisher Scientific (NYSE:TMO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Thermo Fisher Scientific's stock has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, highlighting positive sentiment among analysts.
• The average target price for Thermo Fisher shares is currently set at $593.00, with 16 analysts giving the stock a buy rating.
• In its latest quarterly earnings, Thermo Fisher reported $5.36 EPS, exceeding analyst expectations and showing a 2.9% revenue growth year-over-year.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other research analysts have also recently weighed in on TMO. Evercore ISI cut their price objective on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. HSBC reiterated a "hold" rating and issued a $510.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price on the stock in a research note on Friday, July 11th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $462.74 on Friday. Thermo Fisher Scientific has a 1-year low of $385.46 and a 1-year high of $627.88. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The stock has a market cap of $174.68 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77. The stock's 50-day moving average is $420.88 and its 200-day moving average is $467.66.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.14. The firm had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.37 earnings per share. Equities research analysts anticipate that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the transaction, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Jackson Hole Trust lifted its position in Thermo Fisher Scientific by 2,522.9% in the second quarter. Bank of Jackson Hole Trust now owns 918 shares of the medical research company's stock valued at $372,000 after acquiring an additional 883 shares during the last quarter. Motco increased its stake in Thermo Fisher Scientific by 8.1% in the 2nd quarter. Motco now owns 22,598 shares of the medical research company's stock valued at $9,163,000 after buying an additional 1,693 shares during the period. Fire Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 6.8% in the 2nd quarter. Fire Capital Management LLC now owns 2,701 shares of the medical research company's stock valued at $1,095,000 after purchasing an additional 172 shares in the last quarter. Jennison Associates LLC purchased a new position in Thermo Fisher Scientific in the second quarter worth $67,303,000. Finally, Markel Group Inc. lifted its stake in shares of Thermo Fisher Scientific by 10.1% in the second quarter. Markel Group Inc. now owns 49,550 shares of the medical research company's stock valued at $20,091,000 after purchasing an additional 4,550 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.