Needham & Company LLC Lowers Thermo Fisher Scientific (NYSE:TMO) to Buy

Needham & Company LLC cut shares of Thermo Fisher Scientific (NYSE:TMO) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday, Benzinga reports. Needham & Company LLC currently has $315.00 price objective on the medical research company’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Eutelsat Communications from a hold rating to a strong-buy rating and set a $21.00 price objective on the stock in a research report on Wednesday, June 12th. BTIG Research boosted their price objective on shares of Thermo Fisher Scientific to $320.00 and gave the company a buy rating in a research report on Thursday, May 23rd. Barclays reaffirmed a buy rating and set a $304.00 price objective on shares of Adobe in a research report on Monday, March 18th. Robert W. Baird boosted their price objective 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, Bank of America downgraded shares of Propetro from a buy rating to a neutral rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific presently has a consensus rating of Buy and an average target price of $298.23.

Thermo Fisher Scientific stock opened at $293.73 on Tuesday. The stock has a 50 day moving average price of $288.05. Thermo Fisher Scientific has a fifty-two week low of $208.34 and a fifty-two week high of $305.45. The stock has a market capitalization of $114.79 billion, a P/E ratio of 26.41, a P/E/G ratio of 1.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.16 and a current ratio of 1.69.

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. 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 firm posted $2.50 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts predict that Thermo Fisher Scientific will post 12.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 6.83%.

In other Thermo Fisher Scientific news, Director C Martin Harris sold 275 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $270.73, for a total value of $74,450.75. Following the completion of the sale, the director now directly owns 6,433 shares in the company, valued at $1,741,606.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen Williamson sold 2,500 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total transaction of $670,725.00. Following the completion of the sale, the chief financial officer now owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The disclosure for this sale can be found here. Insiders sold 53,488 shares of company stock valued at $14,600,474 over the last quarter. Corporate insiders own 0.45% of the company’s stock.

Several institutional investors have recently modified their holdings of TMO. Capital Financial Planning LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth $29,000. Liberty Wealth Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $35,000. CX Institutional acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth $36,000. Finally, Claybrook Capital LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $40,000. Institutional investors and hedge funds own 87.98% 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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Analyst Recommendations for Thermo Fisher Scientific (NYSE:TMO)

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