Needham Believes Thermo Fisher (TMO) Still Has Room to Grow

Needham analyst Stephen Unger reiterated a Buy rating on Thermo Fisher (TMO) today and set a price target of $539.00. The company’s shares closed last Monday at $516.44, close to its 52-week high of $532.57.

According to, Unger is a 5-star analyst with an average return of 41.6% and a 78.2% success rate. Unger covers the Healthcare sector, focusing on stocks such as Myriad Genetics, PerkinElmer, and NeoGenomics.

Currently, the analyst consensus on Thermo Fisher is a Strong Buy with an average price target of $534.08, representing a 4.9% upside. In a report issued on January 8, Credit Suisse also upgraded the stock to Buy with a $556.00 price target.

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Thermo Fisher’s market cap is currently $203B and has a P/E ratio of 42.00. The company has a Price to Book ratio of -29.74.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TMO in relation to earlier this year.

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Thermo Fisher Scientific, Inc. engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. The Life Sciences Solutions segment comprises of portfolio of reagents, instruments, and consumables used in biological and medical research, discovery and production of new drugs, and vaccines as well as diagnosis of disease. The Analytical Instruments segment offers instruments, consumables, software, and services that are used for a range of applications in the laboratory, on the production line, and in the field. The Specialty Diagnostics segment gives diagnostic test kits, reagents, culture media, instruments, and associated products used to increase the speed and accuracy of diagnoses. The Laboratory Products and Services segment involves in providing everything needed for the laboratory, including a combination of self-manufactured and sourced products for customers in research, academic, government, industrial, and healthcare settings. The company was founded on October 11, 1960 and is headquartered in Waltham, MA.

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